EURJPY Second Chance: Profit= 570 SL= 114 Reward/Risk > 5:1

Sep 21, 2020

Second Chance Trade Setup summary:

Profit targets= 570 = {TP3= 110 + TP4= 185 + TP5= 275} pip
Stop Loss = 114 pip
Reward/Risk > 5 : 1

New Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line ( 123.00) again.
if so, traders can set orders based on Price Action and expect to reach short-term targets."

New Take Profits:
TP3= @ 121.90
TP4= @ 121.15
TP5= @ 120.25

SL= Break above 123.38

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First Buy Current Status:

Total Profit: 757
Closed trade(s): 226 Profit
Open trade(s): 531 Profit

Trade Setup:
We opened 5 Sell trade(s) @ 124.43 based on 'previous Forecast' at 09.16.2020:

Closed Profit:
TP1 @ 123.60 touched at 09.17.2020 with 83 Profit.
TP2 @ 123.00 touched at 09.21.2020 with 143 Profit.
83 + 143 = 226

Open Profit:
Open trade is 122.66(current price) - 124.43 (open price) = 177
3 trade(s) still open, therefore total profit for open trade(s) is 177 x 3 = 531

Technical analysis:
. EURJPY is in a downtrend and the continuation of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 26.

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