While the price is above the support 6000.00, resumption of uptrend is expected.
We make sure when the resistance at 11600.00 breaks.
If the support at 6000.00 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades, if the Midterm level 6000.00 is broken. Trading suggestion: There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (7450.20 to 6000.00), if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (7450.20)
Ending of entry zone (6000.00) Technical analysis:
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 38.
Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Hammer" or "Trough", 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: Take Profits: TP1= @ 8280.85 TP2= @ 9051.90 TP3= @ 9774.80 TP4= @ 11600.00 TP5= @ 12670.65 TP6= @ 15308.00 TP7= @ 17095.65 TP9= @ 19704.20
Giao dịch đang hoạt động
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BTCUSD , weekly update: Total profit 2192392 in 22 days Bitcoin/Dollar Total Profit: 2192392 pip Closed trade(s): 464120 pip Profit Open trade(s): 1728272 pip Profit
Trade Setup: We opened 10 BUY trade(s) @ 6715.85 based on 'Hammer' entry method at 2018.04.01. Closed Profit: TP1 @ 7556.25 touched at 2018.04.12 with 84040 pip Profit. TP2 @ 8180.60 touched at 2018.04.15 with 146475 pip Profit. TP3 @ 9051.90 touched at 2018.04.24 with 233605 pip Profit. 84040 + 146475 + 233605 = 464120 pip
Open Profit: Profit for one trade is 9184.81(current price) - 6715.85(open price) = 246896 pip 7 trade(s) still open, therefore total profit for open trade(s) is 246896 x 7 = 1728272 pip
Midterm forecast: While the price is above the support 5460.00, resumption of uptrend is expected. We make sure when the resistance at 9774.80 breaks. If the support at 5460.00 is broken, the short-term forecast -resumption of uptrend- will be invalid.
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 66.
But but... what about the bear market bro?? We might break thru 6K, but who knows... everyone is bearish and crying right now, good sign ;)
ForecastCity
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@devilninja777, The market seems range bound in higher timeframes rather than bearish, the level $6000 is a strong support, we should watch the buy zone, if it breaks, then bearish trend is confirmed, and if any reversal pattern is seen in the zone, the we might see resumption of bullish trend.
dcmcalderon
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Mmm. Man, idk we're kinda at the neckline of the Head and Shoulders. Plus the price not even touching the trendline looks like a bad sign.
I'm long once we go out of the channel. For now, it's all short lololol
ForecastCity
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@dcmcalderon, Thanks for your technical point of view, is Head and Shoulders pattern stronger or Support and Resistance?