. While the price is above the support 22.50, beginning of uptrend is expected.
. We make sure when the resistance at 50.65 breaks.
. If the support at 22.50 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 uptrend #2 is not broken, wave in price would continue.
. A trough is formed in at 41.30 on 07/16/2020, so more gains maximum to Major Resistance (50.65) is expected.
. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. ( ) is 67.
Total Profit: 22 pip
Closed trade(s): 0 pip Profit
Open trade(s): 22 pip Profit
We opened 11 BUY trade(s) @ 47.49 based on 'Valley' entry method at 2020.07.25.
Profit for one trade is 47.51(current price) - 47.49(open price) = 2 pip
11 trade(s) still open, therefore total profit for open trade(s) is 2 x 11 = 22 pip
TP2= 56. 05
TP10= 237. 40
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