TRXUSD Update: Profit=4230 SL=760 Reward/Risk > 5.5:1

15 août 2020

Trade Setup summary:

Profit targets=4230 pip (420 + 710 + 1330 + 1770)
Stop Loss =760 pip
Reward/Risk > 5.5: 1

Current Status:

Total Profit: 2415 pip
Closed trade(s): 1280 pip Profit
Open trade(s): 1135 pip Profit

Trade Setup:
We opened 3 BUY trade(s) @ 0.01400 based on 'previous Forecast' at 2020.05.10 :

Closed Profit:
TP1 @ 0.01830 touched at 2020.06.08 with 430 pip Profit.
TP2 @ 0.02250 touched at 2020.08.13 with 850 pip Profit.
430 + 850 = 1280

Open Profit:
Profit for one trade is 0.02535(current price) - 0.01400(open price) = 1135 pip
1 trade(s) still open, therefore total profit for open trade(s) is 1135 x 1 = 1135 pip

Technical analysis:
. TRXUSD is in an uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 45.

New Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (0.02250) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.

New Take Profits:
TP3= @ 0.02670
TP4= @ 0.02960 (New)
TP5= @ 0.03580 (New)
TP6= @ 0.04020 (New)

SL= Break below 0.02060

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