ForecastCity_ME

ETHBTC Update: Profit=16000 SL=1800 Reward/Risk> 8.8:1

Long
BITFINEX:ETHBTC   Ethereum / Bitcoin
Trade Setup summary:

Profit targets=16000 pip (2100 + 5100 + 8800)
Stop Loss =1800 pip
Reward/Risk > 8.8 : 1

Current Status:

Total Profit: 20670 pip
Closed trade(s): 9610 pip Profit
Open trade(s): 11060 pip Profit

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

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.
1170 + 3170 + 5270 = 9610

Open Profit:
Profit for one trade is 0.03086 (current price) - 0.02533 (open price) = 5530 pip
2 trade(s) still open, therefore total profit for open trade(s) is 5530 x 2 = 11060 pip

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 71.

Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (0.0285) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.

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

SL= Break below 0.02790

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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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