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Weekly forecast Theta technical chart
Symbol THETAUSD
Trade Setup

#THETAUSD
Total Profit: -806 point (-65%)
Closed trade(s): 0 point Profit
Open trade(s): -806 point Profit

Trade Setup:
We opened 13 BUY trades @ 1.187 based on 'Valley' entry method at 2022-09-11.

Open Profit:
Profit for one BUY trade is 1.125(current price) - 1.187(open price) = -62 point (-5%)
13 trade(s) still open, therefore total profit for open trade(s) is -62 (-5%) x 13 = -806 point (-65%)

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.
DateOctober 26, 2022 - 22:28
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.910, beginning of uptrend is expected.
  • We make sure when the resistance at 1.715 breaks.
  • If the support at 0.910 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 1.081 on 2022-08-29 and the trough at 0.941 on 2022-10-21, 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 0.940 on 10/21/2022, so more gains to resistance(s) 1.304, 1.475 and maximum to Major Resistance (1.715) 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 66.

Take Profits:

  1. 1.304
  2. 1.475
  3. 1.715
  4. 2.275
  5. 2.939
  6. 3.545
  7. 4.390
  8. 5.945
  9. 7.566
  10. 9.745
  11. 13.200
  12. 15.880
Click on the level to view price action history.
Symbol Released Current Forecast
Theta (THETAUSD) new Mon, 22 Apr 2024
Theta (THETAUSD) Sat, 13 Apr 2024
Theta (THETAUSD) free Sat, 6 Apr 2024
Theta (THETAUSD) free Sun, 31 Mar 2024
Theta (THETAUSD) free Sat, 23 Mar 2024
History
Daily-Trading-Opportunities on THETAUSD.