ForecastCity

💡Don't miss the buy opportunity in DASHBTC

Long
BITTREX:DASHBTC   Dash / Bitcoin
Midterm forecast:
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.

Technical analysis:
The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
While the RSI resistance #2 at 53 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart 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.
Relative strength index ( RSI ) is 44.

Take Profits:
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
TP15 Free

Total Profit: 45 pip
Closed trade(s): 0 pip Profit
Open trade(s): 45 pip Profit

Trade Setup:
We opened 15 BUY trade(s) @ 0.00624 based on 'Valley' entry method at 2020.10.12.

Open Profit:
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

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Comments

This is great.
+3 Reply
@Sir_Ray, Thank you!
+1 Reply
Very nice chart.
+3 Reply
ForecastCity Mehmetozdemi
@Mehmetozdemi, Thank you!
+2 Reply
Useful explanation. Do more on this pair please.
+3 Reply
ForecastCity DenizKilicDeniz
@DenizKilicDeniz, Glad you found it useful. Thank you for commenting.
+2 Reply
We have to set 15 orders. right?
+1 Reply
Pro_Trader_007 Pro_Trader_007
@Pro_Trader_007, Can we skip some of them due to money management issue?
+1 Reply
ForecastCity Pro_Trader_007
@Pro_Trader_007, we recommend members to set orders with the minimum possible invest (micro lot) in the long term trading strategies.
For example, if you open seven 0.01 lot trades, the sum will be 0.07 lot.
+1 Reply
ForecastCity Pro_Trader_007
@Pro_Trader_007, right, it means 15 orders.

Also, we advise new members to learn how to gain more pips instead of more income.
+1 Reply
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