ForecastCity
Long

A New Trading Opportunity!! TP3 hit with 1884035 profit .....!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BITCOIN/DOLLAR
Midterm forecast:
  • There is possibility of temporary retracement to suggested support line (8180.60), if so, traders can set orders based on Price Action and expect to reach short-term targets.
  • While the price is above the support 8180.60, resumption of uptrend is expected.
  • We make sure when the resistance at 9774.80 breaks.
  • If the support at 8180.60 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 8180.60 is broken.

    Technical analysis:
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index ( RSI ) is 67.

Total Profit: 1884035 pip
Closed trade(s): 464120 pip Profit
Open trade(s): 1419915 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 6715.85 based on 'Hammer' entry method at 2018.04.01.

Closed Profit:
TP1 @ 7556.25 touched at 2018.04.12 with 84040 pip Profit.
TP2 @ 8180.60 touched at 2018.04.15 with 146475 pip Profit.
TP3 @ 9051.90 touched at 2018.04.24 with 233605 pip Profit.
84040 + 146475 + 233605 = 464120 pip

Open Profit:
Profit for one trade is 8744.30(current price) - 6715.85(open price) = 202845 pip
7 trade(s) still open, therefore total profit for open trade(s) is 202845 x 7 = 1419915 pip

Take Profits:
TP4= @ 9774.80
TP5= @ 11600.00
TP6= @ 12670.65
TP7= @ 15308.00
TP8= @ 17095.65
TP9= @ 19704.20
TP10= Free
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