There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.7650 would begin in Midterm.
We will close our open trades, if the Midterm level 1.7650 is broken.
New trading suggestion:
Price may also reach 1.7650, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion depends on personal strategies.
If you missed our first HUNT, you have a second chance to sell below the suggested resistance line (1.7650).
Signal to enter the market occurs when the price comes to "Sell zone" then forms one of the reversal patterns, whether "Shooting Star" or "Peak", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
While the downtrend #1 is not broken, wave in price would continue.
A peak is formed in at 1.7655 on 08/14/2018, so more losses to support(s) 1.7365, 1.7065, 1.6860 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
( ) is 38.
TP1 = @1.7995
TP2 = @1.7650
TP3 = @1.7365
TP4 = @1.7065
TP5 = @1.6860
TP6 = @1.6550
TP7 = @1.6160
TP8 = @1.5790
TP9 = @1.4375
TP10 = Free
We opened 10 SELL trade(s) @ 1.8170 (day close price) based on 'Peak' at 2018.04.27 signaled by our "Daily Trading Opportunity".
Total Profit: 6736 pip
Closed trade(s): 1500 pip Profit
Open trade(s): 5236 pip Profit
TP1 @ 1.7995 touched at 2018.05.04 with 175 pip Profit.
TP2 @ 1.7650 touched at 2018.05.23 with 520 pip Profit.
TP3 @ 1.7365 touched at 2018.08.08 with 805 pip Profit.
175 + 520 + 805 = 1500 pip
Profit for one trade is 1.8170(open price) - 1.7422(current price) = 748 pip
7 trade(s) still open, therefore total profit for open trade(s) is 748 x 7 = 5236 pip