ForecastCity
Long

H4 TA Update: Profit=1250 pip SL=350 pip Reward/Risk > 3.5 : 1

FX:EURJPY   Euro / Japanese Yen
Trade Setup summary:
Profit targets=1250 pip (85 + 135 + 240 + 350 + 440)
Stop Loss =350 pip
Reward/Risk > 3.5 : 1

Current Status:

Total Profit: 140 pip
Closed trade(s): 0 pip Profit
Open trade(s): 140 pip Profit

Trade Setup:
We opened 5 BUY trade(s) @ 119.8 based on 'previous Forecast' at 2020.06.20 :
Open Profit:
Profit for one trade is 120.18 (current price) - 119.8 (open price) = 38 pip
5 trade(s) still open, therefore total profit for open trade(s) is 38 x 5 = 140 pip

Technical analysis:
.Price rejected from Uptrend (#1) and built a Hammer .
.A Head & Shoulder is taking shape; if price can break above Neckline, we expect to rich all of our targets.
. EURJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 45.

Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (119.8) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.

Take Profits:
TP1= @ 120.65
TP2= @ 121.10
TP3= @ 121.10
TP4= @ 123.30
TP5= @ 124.44

SL= Break below S2

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Trade active: 557 pip profits...
Total Profit: 557
Closed trade(s): 85 Profit
Open trade(s): 472 Profit

Update Details:
Closed Profit:
TP1 @ 120.65 touched at 06.29.2020 with 85 pips Profit.

Open Profit:
Profit for one trade is 120.98(current price) - 119.80(open price) = 118
4 trade(s) still open, therefore total profit for open trade(s) is 118 x 4 = 472
All SLs moved to Break-even point.

Take Profit:
TP2= @ 121.10
TP3= @ 121.10
TP4= @ 123.30
TP5= @ 124.44
Trade active: 665 pips profit...
Total Profit: 665
Closed trade(s): 215 Profit
Open trade(s): 450 Profit

Update Details:
Closed Profit:
TP1 @ 120.65 touched at 06.29.2020 with 85 Profit.
TP2 @ 121.10 touched at 06.29.2020 with 130 Profit.
85 + 130 = 215

Open Profit:
Profit for one trade is 121.30(current price) - 119.80(open price) = 150
3 trade(s) still open, therefore total profit for open trade(s) is 150 x 3 = 450
All SLs moved to Break-even point.

Take Profit:
TP3= @ 121.10
TP4= @ 123.30
TP5= @ 124.44
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Comments

Sorry I meant TP2 & 3
+2 Reply
Great thanks but why is TP 3&4 the same value? Is this a typo?
+2 Reply
ForecastCity Shorts361
@Shorts361, Oops, my bad. Yes it was a typo. Thanks for mentioning that. We appreciate it. 💙 🙏🏻
Reply
Shorts361 ForecastCity
@ForecastCity, no problem 😉
+1 Reply
I learn everyday something new with you guys. Thank you for sharing this amazing forecast for the second Chance in EURJPY.
+1 Reply
@fxniki, Please don't mention it!👍 we're glad you liked it.
Reply
Your analysis is amazing.. keep up good works .. cheers mate
+1 Reply
ForecastCity dxangelo2
@dxangelo2, We appreciate your kind words. Thanks for your comment. 💙
Reply
WOW! Your analysis is very accurate.

You have a crystal ball!

Thanks for such clear charts!
+1 Reply
ForecastCity Alexander_007
@Alexander_007, You're welcome! We appreciate your kind words. 🔮😍
Reply
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