Trading suggestion: If the Midterm level 1.5240 is broken, we will close open trades. Price may also reach 1.5240, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to our STRATEGY, and depends on personal strategies.
Midterm forecast: While the price is above the support 1.5240, resumption of uptrend is expected. We make sure when the resistance at 1.5960 breaks. If the support at 1.5240 is broken, the short-term forecast -resumption of uptrend- will be invalid. We will close our open trades, if the Midterm level 1.5240 is broken.
Technical analysis: The ascending flag taking shape suggests we will soon see another leg higher. A peak is formed in daily chart at 1.5545 on 04/20/2020, so more losses to support(s) 1.5365 and minimum to Major Support (1.5240) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 45.
Trade Setup: Total Profit: 2678 pip Closed trade(s): 2385 pip Profit Open trade(s): 293 pip Profit
Trade Setup: We opened 7 BUY trade(s) @ 1.5095 (day close price) based on 'Valley' at 2020.02.20.
Closed Profit: TP1 @ 1.5160 touched at 2020.02.21 with 65 pip Profit. TP2 @ 1.5240 touched at 2020.02.27 with 145 pip Profit. TP3 @ 1.5365 touched at 2020.02.28 with 270 pip Profit. TP4 @ 1.5570 touched at 2020.03.06 with 475 pip Profit. TP5 @ 1.5720 touched at 2020.03.09 with 625 pip Profit. TP6 @ 1.5900 touched at 2020.03.16 with 805 pip Profit. 65 + 145 + 270 + 475 + 625 + 805 = 2385 pip
Open Profit: Profit for one trade is 1.5388(current price) - 1.5095(open price) = 293 pip 1 trade(s) still open, therefore total profit for open trade(s) is 293 x 1 = 293 pip