A Second Chance to Buy in BCHUSD ...New trading suggestion:
*The price is in a range bound and we forecast the uptrend would resume.
*There is still a possibility of temporary retracement to suggested support line (832.10). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 832.10 would begin in Midterm.
Technical analysis:
The RSI bounced from the support #1 at 35 and it prevented the price from more losses.
Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains.
Relative strength index (RSI) is 39.
Take Profits:
TP1= @ 748.60
TP2= @ 832.10
TP3= @ 945.70
TP4= @ 1120.15
TP5= @ 1292.20
TP6= @ 2026.20
TP7= @ 2811.15
TP8= @ 4088.05
TP9= Free
Trade Setup:
We opened 9 BUY trade(s) @ 627.89 based on 'Two-Day reversal candle (Hammer in D2 time frame)' entry method at 2018.04.07.
Total Profit: 331814 pip
Closed trade(s): 179930 pip Profit
Open trade(s): 151884 pip Profit
Closed Profit:
TP1 @ 748.60 touched at 2018.04.13 with 12071 pip Profit.
TP2 @ 832.10 touched at 2018.04.18 with 20421 pip Profit.
TP3 @ 945.70 touched at 2018.04.19 with 31781 pip Profit.
TP4 @ 1120.15 touched at 2018.04.20 with 49226 pip Profit.
TP5 @ 1292.20 touched at 2018.04.23 with 66431 pip Profit.
12071 + 20421 + 31781 + 49226 + 66431 = 179930 pip
Open Profit:
Profit for one trade is 1007.60(current price) - 627.89(open price) = 37971 pip
4 trade(s) still open, therefore total profit for open trade(s) is 37971 x 4 = 151884 pip
