ForecastCity_ME
Long

ETHBTC Update: Profit=29850 SL=4500 Reward/Risk > 6.9:1

BITFINEX:ETHBTC   Ethereum / Bitcoin

Trade Setup summary:
Profit targets=31000 pip (1400 + 3400 + 5500 + 8500 + 12200)
Stop Loss =4500 pip
Reward/Risk > 6.9 : 1

Current Status:

Total Profit: 14750 pip
Closed trade(s): 4340 pip Profit
Open trade(s): 10410 pip Profit

Trade Setup:
We opened 5 BUY trade(s) @ 0.025330 based on 'previous Forecast' at 2020.07.16 :

Closed Profit:
TP1 @ 0.0265 touched at 2020.07.22 with 1170 pip Profit.
TP2 @ 0.0285 touched at 2020.07.23 with 3170 pip Profit.
1170 + 3170 = 4340

Open Profit:
Profit for one trade is 0.028800(current price) - 0.025330(open price) = 3470 pip
3 trade(s) still open, therefore total profit for open trade(s) is 2670 x 3 = 10410 pip
Break Even 0.025330

Technical analysis:
. ETHBTC 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 76.

Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (0.0265) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.

Take Profits:
TP2= @ 0.0285
TP3= @ 0.0306
TP4= @ 0.0336
TP5= @ 0.0373

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Trade active: 27080 pips profit...

Total Profit: 27080
Closed trade(s): 17880 Profit
Open trade(s): 9200 Profit


Update Details:

Closed Profit:
TP1 @ 0.02650 touched at 2020.07.22 with 1170 pip Profit.
TP2 @ 0.02850 touched at 2020.07.23 with 3170 pip Profit.
TP3 @ 0.03060 touched at 2020.07.25 with 5270 pip Profit.
TP4 @ 0.03360 touched at 2020.08.02 with 8270 pip Profit.
1170 + 3170 + 5270 + 8270 = 17880

Open Profit:
Profit for one trade is 0.03453 (current price) - 0.02533 (open price) = 9200
1 trade(s) still open, therefore total profit for open trade(s) is 9200 x 1 = 9200
All SLs moved to Break-even point.

Take Profit:
TP5= @ 0.0373
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Comments

thanks for your ideas
+1 Reply
@Kamryn, You're very welcome 💙 Thanks for your comment
Reply
Thank you!
+1 Reply
ForecastCity_ME Mehmetozdemi
@Mehmetozdemi, We appreciate your comment. 💙
Reply
Excellent! as always!

Thank You for sharing!
+1 Reply
ForecastCity_ME Alexander_007
@Alexander_007, Thanks! We appreciate your comment. 💙
Reply
Thank you for your perfect Support / Resistance and Technical Analysis!
+1 Reply
ForecastCity_ME Josef_anderson
@Josef_anderson, You're very welcome 💙 Thanks for your comment
Reply
Great analysis buddy
+1 Reply
ForecastCity_ME sara-kian-fx
@sara-kian-fx, Thanks for your comment
+1 Reply
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