ForecastCity_ME

BTCUSD Update: Profit=373800 SL=81600 Reward/Risk > 4.6 : 1

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Trade Setup summary:
Profit targets=373800 pip (24200 + 34100 + 43200 + 66900 + 85700 + 119700)
Stop Loss =81600 pip
Reward/Risk > 4.6 : 1

Current Status:

Total Profit: 70348 pip
Closed trade(s): 24500 pip Profit
Open trade(s): 45848 pip Profit

Trade Setup:
We opened 6 BUY trade(s) @ 9212.00 based on 'previous Forecast' at 2020.07.15 :

Closed Profit:
TP1 @ 9285.0 touched at 2020.07.21 with 7300 pip Profit.
TP2 @ 9384.0 touched at 2020.07.21 with 17200 pip Profit.
7300 + 17200 = 24500

Open Profit:
Profit for one trade is 9326.62(current price) - 9212.00(open price) = 11462 pip
4 trade(s) still open, therefore total profit for open trade(s) is 11462 x 4 = 45848 pip
Break Even 0.658

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 59.

Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (9220.00) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.

Take Profits:
TP1= @ 9285.00
TP2= @ 9384.00
TP3= @ 9475.00
TP4= @ 9712.00
TP5= @ 9900.00
TP6= @ 10240.0

SL= Break below S2

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