Midterm forecast: There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.1300 would begin in Midterm.
Trade Setup: We opened 8 BUY trade(s) @ 1.1677 (day close price) based on 'Vale & Two-day reversal candle' at 2018.08.27 signaled by DTO.
Total Profit: 40 pip Closed trade(s): 0 pip Profit Open trade(s): 40 pip Profit
Open Profit: Profit for one trade is 1.1682(current price) - 1.1677(open price) = 5 pip 8 trade(s) still open, therefore total profit for open trade(s) is 5 x 8 = 40 pip
Technical analysis: There is a divergence in RSI and price between the trough at 1.15095 on 2018-05-29 and the trough at 1.13005 on 2018-08-15, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased. The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased. While the RSI support #2 at 46 is not broken, the probability of price decrease would be too low. A trough is formed in daily chart at 1.1525 on 09/10/2018, so more gains to resistance(s) 1.1740, 1.1840, 1.1925 and more heights is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 55.
Trade Setup: We opened 8 BUY trade(s) @ 1.1677 (day close price) based on 'Vale & Two-day reversal candle' at 2018.08.27 signaled by DTO 2.69% .
Total Profit: 539 pip Closed trade(s): 63 Profit Open trade(s): 476 Profit
Closed Profit: TP1 @ 1.1740 touched at 09.20.2018 with 63 Profit.
Open Profit: Profit for one trade is 1.1745 (current price) - 1.1677(open price) = 68 pip 7 trade(s) still open, therefore total profit for open trade(s) is 68 x 7 = 476 pip
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