ForecastCity_ME

ETHUSD Update: Profit=32250 SL=11600 Reward/Risk > 2.8:1

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

Profit targets=32250 pip (2350 + 5620 + 9320 + 14960)
Stop Loss =11600 pip
Reward/Risk > 2.8 : 1

Current Status:

Total Profit: 29400 pip
Closed trade(s): 5400 pip Profit
Open trade(s): 24000 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.

Open Profit:
Profit for one trade is 399.00(current price) - 339.00(open price) = 6000 pip
4 trade(s) still open, therefore total profit for open trade(s) is 6000 x 4 = 24000 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 61.

New Trading suggestion:
. There is still a possibility of temporary retracement to suggested Uptrend and price reject from uptrend. if so, traders can set orders based on Price Action and expect to reach short-term targets.

New Take Profits:
TP2= @ 416.50
TP3= @ 449.20
TP4= @ 486.20
TP5= @ 542.60

SL: Break Below Uptrend

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