ForecastCity
Long

A New Trading Opportunity to Buy. TP3 hit with 1892587 profit...

COINBASE:ETHUSD   Ethereum / U.S. Dollar
ETHEREUM/DOLLAR
New trading suggestion:
  • The price is in an up trend and we forecast the uptrend would continue.
  • There is possibility of temporary retracement to suggested support line (527.285), if so, traders can set orders based on Price Action and expect to reach short-term targets.

    Midterm forecast:
  • While the level 527.285 is not broken, the Midterm wave will be uptrend.
  • Price may also reach 527.285, 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 527.285 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 58.
Total Profit: 1892587 pip
Closed trade(s): 398171 pip Profit
Open trade(s): 1494416 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 420.243 based on 'Hammer' entry method at 04.11.2018. (we use SimpleFX.com standard charts as reference.)
Closed Profit:
TP1 @ 475.300 touched at 04.12.2018 with 55057 pip Profit.
TP2 @ 553.100 touched at 04.19.2018 with 132857 pip Profit.
TP3 @ 630.500 touched at 04.22.2018 with 210257 pip Profit.
55057 + 132857 + 210257 = 398171 pip

Open Profit:
Profit for one trade is 633.731(current price) - 420.243(open price) = 213488 pip
7 trade(s) still open, therefore total profit for open trade(s) is 213488 x 7 = 1494416 pip

Take Profits:
TP4= @ 729.300
TP5= @ 864.550
TP6= @ 970.450
TP7= @ 1151.600
TP8= @ 1229.700
TP9= @ 1415.950
TP10= Free
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