While the price is above the support 1.5480, beginning of uptrend is expected.
We make sure when the resistance at 4.1250 breaks.
If the support at 1.5480 is broken, the short-term forecast -beginning of uptrend- will be invalid.
While the RSI
support #1 at 49 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart
at 3.4838 on 03/12/2019, so more gains maximum to Major Resistance (4.1250) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index
) is 50.
There is a possibility of temporary retracement to suggested support zone
(3.1360 to 2.1785). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (3.1360)
Ending of entry zone (2.1785)
Signal to enter the market occurs when the price comes to "Buy zone
" then forms one of the reversal patterns, whether "Bullish Engulfing
" 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 the special version of our "Price Action
" strategy FOLLOW our lessons
We opened 10 BUY trade(s) @ 3.8398 based on 'Valley' entry method at 2019.03.05.
Closed trade(s): 0 pip Profit
Open trade(s): -18920 pip Profit
Profit for one trade is 3.6506 (current price) - 3.8398 (open price) = -1892 pip
10 trade(s) still open, therefore total profit for open trade(s) is -1892 x 10 = -18920 pip
TP1= @ 4.1250
TP2= @ 5.1140
TP3= @ 6.7520
TP4= @ 7.6735
TP5= @ 9.8555
TP6= @ 12.3640
TP7= @ 14.8615
TP8= @ 18.4395
TP9= @ 22.9885