BNBPERP trade ideas
BNBUSD Second Chance: Profit=76% SL=30% Reward/Risk > 2.5:1Second Chance Trade Setup summary:
Profit targets = 76% = {TP3 = 8% + TP4 = 29% + TP5 = 39%}
Stop Loss = 30%
Reward/Risk > 2.5 : 1
New Trading suggestion:
" It is still possible to see a temporary retracement when the price falls to the uptrend line that will support and reject the price.
if so, traders can set orders based on Price Action and expect to reach short-term targets. "
New Take Profits:
TP3 @ 22.60
TP4 @ 26.58
TP5 @ 28.96 New
TP6 Free
SL= Break below 18.80
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First Buy Current Status:
Total Profit: 92%
Closed trade(s): 50% Profit
Open trade(s): 42% Profit
Trade Setup:
We opened 5 BUY trade(s) @ 17.71000 based on 'previous Forecast' at 2020.07.21 :
Closed Profit:
TP1 @ 18.80 touched at 2020.07.23 with 6% Profit.
TP2 @ 20.80 touched at 2020.07.26 with 17% Profit.
TP3 @ 22.60 touched at 2020.07.27 with 27% Profit.
6% + 17% + 27% = 50%
Open Profit:
Open trade is 21.40000 (current price) - 17.71000 (open price) = 21%
2 trade(s) still open, therefore total profit for open trade(s) is 21% x 2 = 42%
Technical analysis:
. BNBUSD is in an uptrend and the continuation of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 44.
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There is a trading opportunity to buy in BNBUSDMidterm forecast:
. While the price is above the support 15.015, resumption of uptrend is expected.
. We make sure when the resistance at 18.880 breaks.
. If the support at 15.015 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
. The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
. While the RSI uptrend #2 is not broken, bullish wave in price would continue.
. A trough is formed in daily chart at 16.500 on 07/16/2020, so more gains maximum to Major Resistance (18.880) is expected.
. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. Relative strength index (RSI) is 59.
Trade Setup:
We opened 5 BUY trade(s) @ 17.713 based on 'Valley' entry method at 2020.07.21.
Take Profits:
TP1= 18.880
TP2= 20.800
TP3= 22.600
TP4= 26.580
TP5= Free
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ForecastCity English Support Team ❤️
