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Weekly forecast Ethereum technical chart
Symbol ETHUSD

Download MT4 template file

Trade Setup
#ETHUSD
Total Profit: 90470 pip
Closed trade(s): 30524 pip Profit
Open trade(s): 59946 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 373.13(current price) - 273.22(open price) = 9991 pip
6 trade(s) still open, therefore total profit for open trade(s) is 9991 x 6 = 59946 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 286.150 is broken, we will close open trades.

DateOctober 18, 2020 - 12:51
Currentrange bound
Forecastresumption of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 286.150, resumption of uptrend is expected.
  • We make sure when the resistance at 475.300 breaks.
  • If the support at 286.150 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 286.150 is broken.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
  • A peak is formed in daily chart at 394.900 on 10/13/2020, so more losses to support(s) 363.450, 313.600 and minimum to Major Support (286.150) 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 54.

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.

Symbol Released Current Forecast
Ethereum (ETHUSD) new Tue, 1 Dec 2020
Ethereum (ETHUSD) Wed, 25 Nov 2020
Ethereum (ETHUSD) free Tue, 17 Nov 2020
Ethereum (ETHUSD) free Mon, 9 Nov 2020
Ethereum (ETHUSD) free Sun, 1 Nov 2020