ForecastCity_ME

ETHUSD Update: Profit=13929 pip SL=3245 pip Reward/Risk > 4.3:1

Long
BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
Trade Setup summary:
Profit targets=13929 pip (800 + 1543 + 2405 + 3436 + 5745)
Stop Loss = 3245 pip
Reward/Risk > 4.3:1

Current Status:
Total Profit: 11684 pip
Closed trade(s): 8184 pip Profit
Open trade(s): 3500 pip Profit

Trade Setup:
We opened 5 BUY trade(s) @ 229.34 based on 'previous Forecast' at 2020.07.06 :

Closed Profit:
TP1 @ 237.34 touched at 2020.07.20 with 800 pip Profit.
TP2 @ 244.77 touched at 2020.07.21 with 1543 pip Profit.
TP3 @ 244.77 touched at 2020.07.22 with 2405 pip Profit.
TP4 @ 263.70 touched at 2020.07.22 with 3436 pip Profit.
800 + 1543 + 2405 + 3436= 8184

Open Profit:
Profit for one trade is 264.34 (current price) - 229.34 (open price) = 3500 pip
1 trade(s) still open, therefore total profit for open trade(s) is 3500 x 1 = 3500 pip
Break Even 229.34

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 83.

Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (244.77) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.

Take Profits:
TP5= @ 286.79


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Comments

Good analysis as usual
+1 Reply
@Sir_Ray, Thanks 😊
Reply
very clean!
+1 Reply
@Kristalyn, Thanks 😊
Reply
Lovely analysis, think this could be a goer!
+1 Reply
ForecastCity_ME Josef_anderson
@Josef_anderson, Thank you for your comment
Reply
Good post. Thanks
+1 Reply
ForecastCity_ME sara-kian-fx
@sara-kian-fx, You're welcome 💙
Reply
Appreciated your content, in the end we are all students of the market and learning constantly from it
+1 Reply
ForecastCity_ME Mehmetozdemi
@Mehmetozdemi, Thank you for sharing your honest feedback.
+1 Reply
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