ForecastCity
Long

XRPUSD Update: Profit=37000 SL=11000 Reward/Risk > 3.3:1

BINANCE:XRPUSD   XRP / U.S. Dollar
Trade Setup summary:

Profit targets=37000 pip (2000+ 4000 + 6000 + 10000 + 15000)
Stop Loss =11000 pip
Reward/Risk > 3.3: 1

Current Status:

Total Profit: 22700 pip
Closed trade(s): 12000 pip Profit
Open trade(s): 10700 pip Profit

Trade Setup:
We opened 5 BUY trade(s) @ 0.19 based on 'previous Forecast' at 2020.07.16 :

Closed Profit:
TP1 @ 0.21 touched at 2020.07.20 with 2000 pip Profit.
TP2 @ 0.23 touched at 2020.07.26 with 4000 pip Profit.
TP3 @ 0.25 touched at 2020.07.29 with 6000 pip Profit.
2000 + 4000 + 6000 = 12000

Open Profit:
Profit for one trade is 0.24350(current price) - 0.19000(open price) = 5350 pip
2 trade(s) still open, therefore total profit for open trade(s) is 53500 x 2 = 10700 pip
Break Even 0.19

Technical analysis:
. XRPUSD 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 79.

Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (0.223) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.

Take Profits:
TP3= @ 0.25
TP4= @ 0.29
TP5= @ 0.34

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Comments

Thanks for the update. I agree with your technical analysis.
+1 Reply
@fxniki, Please don't mention it.
Reply
So nice work!
+1 Reply
ForecastCity Mehmetozdemi
@Mehmetozdemi, Thank you! We appreciate your comment.
Reply
Thanks a lot!
+1 Reply
ForecastCity sara-kian-fx
@sara-kian-fx, ❤️
Reply
Your analysis is very accurate.
+1 Reply
ForecastCity sara-kian-fx
@sara-kian-fx, Thanks! We appreciate you comment
Reply
Thanks for sharing this idea
+1 Reply
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