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Weekly forecast Polygon technical chart
Symbol MATICUSD
Trade Setup

#MATICUSD
Total Profit: -18873 point (-171%)
Closed trade(s): 0 point Profit
Open trade(s): -18873 point Profit

Trade Setup:
We opened 9 BUY trades @ 1.1334 based on 'Valley' entry method at 2023-04-13.

Open Profit:
Profit for one BUY trade is 0.9237(current price) - 1.1334(open price) = -2097 point (-19%)
9 trade(s) still open, therefore total profit for open trade(s) is -2097 (-19%) x 9 = -18873 point (-171%)

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.

DateMay 28, 2023 - 12:25
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.7475, beginning of uptrend is expected.
  • We make sure when the resistance at 1.5680 breaks.
  • If the support at 0.7475 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 0.8175 on 05/12/2023, so more gains to resistance(s) 0.9425, 1.0550, 1.2500 and maximum to Major Resistance (1.5680) 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 52.

Take Profits:

  1. 1.2500
  2. 1.3520
  3. 1.5680
  4. 1.9000
  5. 2.0998
  6. 2.4400
  7. 2.7000
  8. 2.9250
Click on the level to view price action history.

Symbol Released Current Forecast
Polygon (MATICUSD) Mon, 10 Jun 2024
Polygon (MATICUSD) Sun, 2 Jun 2024
Polygon (MATICUSD) Sun, 26 May 2024
Polygon (MATICUSD) Sun, 19 May 2024
Polygon (MATICUSD) Sun, 12 May 2024