ForecastCity
Long

A second Chance to Buy in XRPUSD

BITFINEX:XRPUSD   XRP / U.S. Dollar
Midterm forecast:
0.370 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 61.

New trading suggestion:
*There is still a possibility of temporary retracement to suggested support line (0.370). if so, traders can set orders based on Price Action and expect to reach short-term targets.
*If you missed our first HUNT, you have a second chance to buy above the suggested support line (0.370).

Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:

Trade Setup:
We opened 11 BUY trade(s) @ 0.32488 based on 'Valley' entry method at 2019.04.30.

Total Profit: 133457 pip
Closed trade(s): 33203 pip Profit
Open trade(s): 100254 pip Profit

Closed Profit:
TP1 @ 0.35520 touched at 2019.05.14 with 3032 pip Profit.
TP2 @ 0.38230 touched at 2019.05.14 with 5742 pip Profit.
TP3 @ 0.42415 touched at 2019.05.14 with 9927 pip Profit.
TP4 @ 0.46990 touched at 2019.05.14 with 14502 pip Profit.
3032 + 5742 + 9927 + 14502 = 33203

Open Profit:
Profit for one trade is 0.46810 (current price) - 0.32488 (open price) = 14322 pip
7 trade(s) still open, therefore total profit for open trade(s) is 14322 x 7 = 100254 pip
All SLs moved to Break-even point.

Take Profits:
TP5= @ 0.57000
TP6= @ 0.70580
TP7= @ 0.79100
TP8= @ 0.96780
TP9= @ 1.41240
TP10= @ 1.61350
TP11= Free
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The price is dropping at the moment. I'm waiting for that reversal pattern :) Eyeing 0.40 and then 0.37
+1 Reply
ForecastCity macstinger
@macstinger, Thanks for your comment.
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