ForecastCity
Long

LTCBTC Update: Profit=39800 SL=800 Reward/Risk > 16.9:1

BINANCE:LTCBTC   Litecoin / Bitcoin
Trade Setup summary:
Profit targets=39800 pip (500 + 1000 + 1300 + 1500 + 1900 + 2600 + 3600 + 5400+ 8500 + 13500)
Stop Loss =800 pip
Reward/Risk > 16.9 : 1

Current Status:

Total Profit: 2345 pip
Closed trade(s): 284 pip Profit
Open trade(s): 2061 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 0.004716 based on 'previous Forecast' at 2020.07.06 :

Closed Profit:
TP1 @ 0.005000 touched at 2020.07.06 with 284 pip Profit.

Open Profit:
Profit for one trade is 0.004945(current price) - 0.004716(open price) = 229 pip
9 trade(s) still open, therefore total profit for open trade(s) is 229 x 9 = 2061 pip
Break Even 0.004716

Technical analysis:
. LTCBTC is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 63.

Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (0.004500) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.

Take Profits:
TP1= @ 0.005000
TP2= @ 0.005500
TP3= @ 0.005800
TP4= @ 0.006000
TP5= @ 0.006400
TP6= @ 0.007100
TP7= @ 0.008100
TP8= @ 0.009900
TP9= @ 0.013000
TP10= @ 0.018000

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Comments

I've learned many new things just by following your ideas.🥰
+1 Reply
@fxniki, Thanks for your kind comment. 💎🙏💎
Reply
Thanks for sharing. Really appreciate your work and sharing it with us. One thing i didn't understand whats the strategy of opening 5-10 trades?
+1 Reply
ForecastCity harishghorui
@harishghorui, Thank you for your comment. To get familiar with our strategy, please read this page and all the blue menus on the left:

https://www.forecastcity.com/en/forecasts/introduction/weekly

https://www.forecastcity.com/en/trend-hunter

Trend Hunter Strategy
the beginning of the trend
Simple Entry Methods
Profit taking methods
The end of the trend
Stop Loss
+1 Reply
Thanks a lot!
+1 Reply
ForecastCity Shiva_forex
@Shiva_forex, You're more than welcome!
Reply
Keep This on my Radar This Week
+1 Reply
ForecastCity Shiva_forex
@Shiva_forex, We hope you enjoy it😊💚
Reply
@ForecastCity always enjoy your posts
+1 Reply
ForecastCity Mehmetozdemi
@Mehmetozdemi, That's good to hear. 😊 Thanks!
Reply
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