There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 0.8785 would begin in Midterm.
We will close our open trades. if the Midterm level 0.8785 is broken.
While the downtrend #1 is not broken, wave in price would continue.
A peak is formed in the at 0.8825 on 08/08/2018, so more losses to support(s) 0.8400, 0.8310, 0.7965 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains.
( ) is 24.
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 the reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
We opened 8 SELL trade(s) @ 0.9162 (day close price) based on 'Shooting Star' at 2018.06.22 signaled by DTO:
Total Profit: 2270 pip
Closed trade(s): 1744 pip Profit
Open trade(s): 526 pip Profit
TP1 @ 0.9110 touched at 2018.06.26 with 52 pip Profit.
TP2 @ 0.9065 touched at 2018.06.27 with 97 pip Profit.
TP3 @ 0.9000 touched at 2018.06.28 with 162 pip Profit.
TP4 @ 0.8930 touched at 2018.06.29 with 232 pip Profit.
TP5 @ 0.8860 touched at 2018.07.02 with 302 pip Profit.
TP6 @ 0.8785 touched at 2018.08.02 with 377 pip Profit.
TP7 @ 0.8640 touched at 2018.08.09 with 522 pip Profit.
52 + 97 + 162 + 232 + 302 + 377 + 522 = 1744 pip
Profit for one trade is 0.9162(open price) - 0.8636(current price) = 526 pip
1 trade(s) still open, therefore total profit for open trade(s) is 526 x 1 = 526 pip
TP1= @ 0.9110
TP2= @ 0.9065
TP3= @ 0.9000
TP4= @ 0.8930
TP5= @ 0.8860
TP6= @ 0.8785
TP7= @ 0.8640