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Weekly forecast Ethereum technical chart
Symbol ETHUSD

Download MT4 template file

Trade Setup
#ETHUSD
Total Profit: 90500 pip
Closed trade(s): 30524 pip Profit
Open trade(s): 59976 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 273.22 based on 'Valley' entry method at 2020.07.23.

Closed Profit:
TP1 @ 286.15 touched at 2020.07.24 with 1293 pip Profit.
TP2 @ 363.45 touched at 2020.08.01 with 9023 pip Profit.
TP3 @ 475.30 touched at 2020.09.01 with 20208 pip Profit.
1293 + 9023 + 20208 = 30524 pip

Open Profit:
Profit for one trade is 373.18(current price) - 273.22(open price) = 9996 pip
6 trade(s) still open, therefore total profit for open trade(s) is 9996 x 6 = 59976 pip

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.
  • If the Midterm level 286.15 is broken, we will close open trades.

DateOctober 11, 2020 - 20:59
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 286.15, resumption of uptrend is expected.
  • We make sure when the resistance at 475.30 breaks.
  • If the support at 286.15 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 286.15 is broken.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
  • A trough is formed in daily chart at 333.100 on 10/07/2020, so more gains maximum to Major Resistance (475.300) 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 56.

Take Profits:

  1. 286.150
  2. 363.450
  3. 475.300
  4. 593.700
  5. 752.200
  6. 911.300
  7. 1135.100
  8. 1420.500
Click on the level to view price action history.

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