A second Chance to Buy in ETCETH ...Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast resumption of uptrend.
Technical analysis:
. While the RSI and the price downtrend in the Daily chart are not broken, bearish wave in price would continue .
. Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains.
. Relative strength index (RSI) is 33.
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 (0.040). 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 (0.040).
Entry signal:
Signal to enter the market occurs when the price comes to "Support line" 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 special version of our "Price Action" strategy FOLLOW our lessons:
New Take Profits:
TP1= @ 0.0474
TP2= @ 0.0506
TP3= @ 0.0530
TP4= @ 0.0635
TP5= @ 0.0888
TP6= @ 0.1093
TP7= @ 0.1298
TP8= @ 0.1962
TP9= @ 0.4570
TP10= Free
Trade Setup:
We opened 10 BUY trade(s) @ 0.03178736 based on ' Bullish Engulfing' entry method at 05.06.2018.
Total Profit: 67666553 pip
Closed trade(s): 2063792 pip Profit
Open trade(s): 65602761 pip Profit
Closed Profit:
TP1 @ 0.0336 touched at 06.21.2018 with 181264 Profit.
TP2 @ 0.0384 touched at 07.06.2018 with 661264 Profit.
TP3 @ 0.0440 touched at 08.06.2018 with 1221264 Profit.
181264 + 661264 + 1221264 = 2063792
Open Profit:
Profit for one trade is 0.041159183 (current price) - 0.03178736 (open price) = 9371823
7 trade(s) still open, therefore total profit for open trade(s) is 9371823 x 7 = 65602761
All SLs moved to Break-even point.
