While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 27. 40 breaks.
If the support at 21.90 is broken, the short-term forecast -resumption of uptrend- will be invalid.
While the downtrend #1 is not broken, wave in price would continue.
A trough is formed in at 23.95 on 01 /18/2021, so more gains maximum to Major Resistance (27. 40 ) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
( ) is 62.
We opened 8 BUY trade(s) @ 24.93 based on 'Hammer' entry method at 2021. 01 .18.
Total Profit: 1584 point
Closed trade(s): 354 point Profit
Open trade(s): 1230 point Profit
TP1 @ 26.00 touched at 2021. 01 .21 with 107 point Profit.
TP2 @ 27. 40 touched at 2021. 01 .29 with 247 point Profit.
107 + 247 = 354 point
Profit for one trade is 26.98(current price) - 24.93(open price) = 205 point
6 trade(s) still open, therefore total profit for open trade(s) is 205 x 6 = 1230 point
TP1 @ 26.00
TP2 @ 27. 40
TP3 @ 28.45
TP4 @ 29.85
TP5 @ 31.25
TP6 @ 32.45
TP7 @ 33.45
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