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Weekly forecast Elrond technical chart
Symbol EGLDUSD

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Trade Setup

#EGLDUSDT
Total Profit: 6260 pip (81%)
Closed trade(s): 692 pip Profit (9%)
Open trade(s): 5568 pip Profit (72%)

Trade Setup:
We opened 9 BUY trade(s) @ 79.38 based on 'Valley' entry method at 2021.07.22.

Closed Profit:
TP1 @ 86.30 touched at 2021.07.24 with 692 pip Profit (9%).

Open Profit:
Profit for one trade is 86.34(current price) - 79.38(open price) = 696 pip (9%)
8 trade(s) still open, therefore total profit for open trade(s) is 696 (9%) x 8 = 5568 pip (72%)

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateJuly 31, 2021 - 19:14
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 53.50, beginning of uptrend is expected.
  • We make sure when the resistance at 126.55 breaks.
  • If the support at 53.50 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 65.95 on 2021-05-23 and the trough at 53.4 on 2021-06-22, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 65.00 on 07/20/2021, so more gains to resistance(s) 99.00, 107.95 and maximum to Major Resistance (126.55) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 55.

Take Profits:

  1. 86.30
  2. 99.00
  3. 107.95
  4. 126.55
  5. 149.75
  6. 172.25
  7. 204.65
  8. 245.10
Click on the level to view price action history.

Symbol Released Current Forecast
Elrond (EGLDUSD) Mon, 13 Sep 2021
Elrond (EGLDUSD) free Sun, 5 Sep 2021
Elrond (EGLDUSD) Sun, 29 Aug 2021
Elrond (EGLDUSD) Sun, 22 Aug 2021
Elrond (EGLDUSD) free Sun, 15 Aug 2021