Excellent Long-Term Hunting Opportunity in XAGUSD, Don't miss it
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Trading suggestion: There is possibility of temporary retracement to suggested support zone (15.85 to 15.60), if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
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 68. .Current short-term is range bound, but beginning of uptrend is expected.
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Total Profit: 1566 point Closed trade(s): 268 point Profit Open trade(s): 1298 point Profit
Trade Setup: We opened 15 BUY trade(s) @ 16.03 based on 'Valley' entry method at 2017.12.13.
Closed Profit: TP1 @ 16.20 touched at 2017.12.19 with 17 point Profit. TP2 @ 16.55 touched at 2017.12.26 with 52 point Profit. TP3 @ 16.85 touched at 2017.12.28 with 82 point Profit. TP4 @ 17.20 touched at 2018.01.03 with 117 point Profit. 17+52+82+117 = 268 point
Open Profit: Profit for one trade is 17.21(current price) - 16.03(open price) = 118 point 11 trade(s) still open, therefore total profit for open trade(s) is 118 x 11 = 1298 point
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TP5 HIT!! 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 56. .Current short-term is range bound, but beginning of uptrend is expected.
Trading suggestion: There is possibility of temporary retracement to suggested support line (16.85), if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.