A Second Chance to Buy in BCHUSD ...

May 8, 2018

New trading suggestion:
*The price is in an up trend and we forecast the uptrend would continue.
*But there is still possibility of temporary retracement to suggested support line (1292.20), if so, traders can set orders based on Price Action and expect to reach short-term targets.

Midterm forecast:
While the level 1292.20 is not broken, the Midterm wave will be uptrend.
Price may also reach 1292.20, if price reaches this level, we may enter by Daily-Trading-Opportunities, this entry depends on personal strategies.
We will close our open trades, if the Midterm level 1292.20 is broken.

Technical analysis:
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 66.

Total Profit: 571894 pip
Closed trade(s): 179930 pip Profit
Open trade(s): 391964 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 627.89 based on 'Two-Day reversal candle (Hammer in D2 time frame)' entry method at 2018.04.07.

Closed Profit:
TP1 @ 748.60 touched at 2018.04.13 with 12071 pip Profit.
TP2 @ 832.10 touched at 2018.04.18 with 20421 pip Profit.
TP3 @ 945.70 touched at 2018.04.19 with 31781 pip Profit.
TP4 @ 1120.15 touched at 2018.04.20 with 49226 pip Profit.
TP5 @ 1292.20 touched at 2018.04.23 with 66431 pip Profit.
12071 + 20421 + 31781 + 49226 + 66431 = 179930 pip

Open Profit:
Profit for one trade is 1607.80(current price) - 627.89(open price) = 97991 pip
4 trade(s) still open, therefore total profit for open trade(s) is 97991 x 4 = 391964 pip

Take Profits:
TP6= @ 2026.20
TP7= @ 2811.15
TP8= @ 4088.05
TP9= Free