ForecastCity_ME
Long

ETHUSD Update: Profit=22850 SL=7050 Reward/Risk > 3.2:1

BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
Trade Setup summary:

Profit targets=22850 pip (3270 + 6970 + 12610)
Stop Loss =7050 pip
Reward/Risk > 3.2: 1

Current Status:

Total Profit: 42250 pip
Closed trade(s): 13150 pip Profit
Open trade(s): 29100 pip Profit

Trade Setup:
We opened 5 BUY trade(s) @ 339.00 based on 'previous Forecast' at 2020.08.02 :

Closed Profit:
TP1 @ 393.00 touched at 2020.08.03 with 5400 pip Profit.
TP2 @ 416.50 touched at 2020.08.13 with 7750 pip Profit.
5400 + 7750 = 13150

Open Profit:
Profit for one trade is 436.00(current price) - 339.00(open price) = 9700 pip
3 trade(s) still open, therefore total profit for open trade(s) is 9700 x 3 = 29100 pip

Technical analysis:
. ETHUSD 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 70.

New Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (416.50) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.

New Take Profits:
TP3= @ 449.20
TP4= @ 486.20
TP5= @ 542.60

SL= Break below 393.00

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Comments

Good work! 👍
+1 Reply
ForecastCity_ME Mesutkashmar
@Mesutkashmar, Thank you! We appreciate your comment.🙏
Reply
Thumbs up 👍 👍
+1 Reply
ForecastCity_ME Mehmetozdemi
@Mehmetozdemi, We appreciate your comment.🙏
Reply
Very cool view, thanks for sharing
+1 Reply
ForecastCity_ME DenizKilicDeniz
@DenizKilicDeniz, It's our pleasure!
Reply
Comprehensive analysis. 👍
+1 Reply
ForecastCity_ME yusufipek1989
@yusufipek1989, Thank you! We appreciate your comment.🙏
Reply
Hi really awesome forecast. Please ll you post next version of forecast?
Reply
I think it will come down to ~400 USD (My re-entry zone) level, few days consolidation and then we can hit ~530 - 560 USD level.
Reply
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