ForecastCity

BNBUSD Second Chance: Profit=76% SL=30% Reward/Risk > 2.5:1

Long
BINANCE:BNBUSD   Binance Coin / US Dollar (calculated by TradingView)
Second Chance Trade Setup summary:

Profit targets = 76% = {TP3 = 8% + TP4 = 29% + TP5 = 39%}
Stop Loss = 30%
Reward/Risk > 2.5 : 1

New Trading suggestion:
" It is still possible to see a temporary retracement when the price falls to the uptrend line that will support and reject the price.
if so, traders can set orders based on Price Action and expect to reach short-term targets. "

New Take Profits:
TP3 @ 22.60
TP4 @ 26.58
TP5 @ 28.96 New
TP6 Free

SL= Break below 18.80
--------------------------------------------------------------------------------------------------
First Buy Current Status:

Total Profit: 92%
Closed trade(s): 50% Profit
Open trade(s): 42% Profit

Trade Setup:
We opened 5 BUY trade(s) @ 17.71000 based on 'previous Forecast' at 2020.07.21 :

Closed Profit:
TP1 @ 18.80 touched at 2020.07.23 with 6% Profit.
TP2 @ 20.80 touched at 2020.07.26 with 17% Profit.
TP3 @ 22.60 touched at 2020.07.27 with 27% Profit.
6% + 17% + 27% = 50%

Open Profit:
Open trade is 21.40000 (current price) - 17.71000 (open price) = 21%
2 trade(s) still open, therefore total profit for open trade(s) is 21% x 2 = 42%

Technical analysis:
. BNBUSD is in an uptrend and the continuation of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 44.

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Comments

👍
+1 Reply
ForecastCity Pro_Trader_007
Reply
testing support +
+1 Reply
ForecastCity PolarHusk
@PolarHusk, 🙏
Reply
Good job! Cool view.
+1 Reply
ForecastCity DenizKilicDeniz
@DenizKilicDeniz, Thank you!
Reply
ForecastCity DenizKilicDeniz
@DenizKilicDeniz, all the best with your trades.
Reply
How long do you think the uptrend continues?
+1 Reply
@Sir_Ray, BNBUSD is in an uptrend and the continuation of uptrend is expected.
Reply
@Sir_Ray, Please read the explanation under the chart.
Reply
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