While the price is above the support 0.00530, beginning of uptrend is expected.
We make sure when the resistance at 0.00850 breaks.
If the support at 0.00530 is broken, the short-term forecast -beginning of uptrend- will be invalid.
The downtrend #1 is broken, so the probability of beginning of uptrend is increased.
While the resistance #2 at 53 is not broken, the probability of price increase would be too low.
A trough is formed in at 0.00600 on 10/10/2020, so more gains to resistance(s) 0.00655, 0.00725, 0.00780 and maximum to Major Resistance (0.00850) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
( ) is 44.
TP1 @ 0.00655
TP2 @ 0.00725
TP3 @ 0.00780
TP4 @ 0.00850
TP5 @ 0.00980
TP6 @ 0.01045
TP7 @ 0.01170
TP8 @ 0.01360
TP9 @ 0.01610
TP10 @ 0.02090
TP11 @ 0.02575
TP12 @ 0.03840
TP13 @ 0.04865
TP14 @ 0.05890
Total Profit: 45 pip
Closed trade(s): 0 pip Profit
Open trade(s): 45 pip Profit
We opened 15 BUY trade(s) @ 0.00624 based on 'Valley' entry method at 2020.10.12.
Profit for one trade is 0.00627(current price) - 0.00624(open price) = 3 pip
15 trade(s) still open, therefore total profit for open trade(s) is 3 x 15 = 45 pip
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex trader?
Now, It's your turn!
Be sure to leave a comment let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
For example, if you open seven 0.01 lot trades, the sum will be 0.07 lot.
Also, we advise new members to learn how to gain more pips instead of more income.