BTCUSD Update: Profit=340900 SL=78800 Reward/Risk > 4.3:1

Aug 1, 2020

Trade Setup summary:

Profit targets=340900 pip (28000 + 56500 + 91400 + 165000)
Stop Loss =78800 pip
Reward/Risk > 4.3 : 1

Current Status:

Total Profit: 111758 pip
Closed trade(s): 38558 pip Profit
Open trade(s): 73200 pip Profit

Trade Setup:
We opened 5 BUY trade(s) @ 11367.21 based on 'previous Forecast' at 2020.07.31 :

Closed Profit:
TP1 @ 11420.0 touched at 2020.08.01 with 5279 pip Profit.
TP2 @ 11700.0 touched at 2020.08.01 with 33279 pip Profit.
5279 + 33279 = 38558

Open Profit:
Profit for one trade is 11611.21(current price) - 11367.21(open price) = 24400 pip
3 trade(s) still open, therefore total profit for open trade(s) is 24400 x 3 = 73200 pip
Break Even 11223.00

Technical analysis:
. BTCUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 69.

New Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (11420.0) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.

Take Profits:
TP2= @ 11700.0
TP3= @ 11985.0
TP4= @ 12334.0
TP5= @ 13070.0

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