KRAKEN:XMRUSD Monero / U.S. Dollar
There is no trend in the market and the price is in a range bound, but we forecast resumption of uptrend.
While the uptrend #1 is not broken, wave in price would continue.
The price is above the 21-Day WEMA which acts as a dynamic support.
( ) is 50.
New trading suggestion:
The price is in a range bound and we forecast the uptrend would resume.
There is still a possibility of temporary retracement to suggested support line (110). if so, traders can set orders based on Price Action and expect to reach short-term targets.
If you missed our first HUNT, you have a second chance to buy above the suggested support line (110).
Signal to enter the market occurs when the price comes to "Support line" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley", 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:
We opened 11 BUY trade(s) @ 89.47 based on ' Valley' entry method at 08.15.2018.
Total Profit: 25712 pip
Closed trade(s): 5606 Profit
Open trade(s): 20106 Profit
TP1 @ 105.00 touched at 08.27.2018 with 1553 Profit.
TP2 @ 130.00 touched at 08.27.2018 with 4053 Profit.
1553 + 4053 = 5606
Profit for one trade is 111.81 (current price) - 89.47 (open price) = 2234
9 trade(s) still open, therefore total profit for open trade(s) is 2234 x 9 = 20106
All SLs moved to Break-even point.
TP3= @ 149.00
TP4= @ 170.00
TP5= @ 192.00
TP6= @ 227.00
TP7= @ 258.00
TP8= @ 298.00
TP9= @ 378.00
TP10= @ 469.00