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Weekly forecast Eidoo technical chart
Symbol EDOUSD

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Trade Setup
#EDOUSD
Total Profit: 34590 pip
Closed trade(s): 34590 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 0.3310 based on 'Valley' entry method at 2020.05.25.

Closed Profit:
TP1 @ 0.3545 touched at 2020.05.26 with 235 pip Profit.
TP2 @ 0.4775 touched at 2020.06.05 with 1465 pip Profit.
TP3 @ 0.5785 touched at 2020.06.11 with 2475 pip Profit.
TP4 @ 0.8230 touched at 2020.07.19 with 4920 pip Profit.
TP5 @ 1.0395 touched at 2020.07.22 with 7085 pip Profit.
235 + 1465 + 2475 + 4920 + 7085 = 16180 pip

Closed Profit:
Profit for one trade is 0.6992(current price) - 0.3310(open price) = 3682 pip
5 trade(s) closed at market price as the major support is broken, therefore total profit will increase by 3682 x 5 = 18410 pip

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.2325 to 0.1700). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.2325)
    • Support on 11/21/2019
    • Support on 11/27/2019
    • Support on 11/28/2019
    • Support on 12/01/2019
    • Support on 12/02/2019
    • Support on 12/03/2019
    • Support on 12/08/2019
    • Support on 12/09/2019
    • Resistance on 12/16/2019
    • Resistance on 12/17/2019
    • Resistance on 02/07/2020
    • Resistance on 02/08/2020
    • Resistance on 02/09/2020
    • Resistance on 02/10/2020
    • Resistance on 02/24/2020
    • Resistance on 05/13/2020
    • Resistance on 05/15/2020
    • Resistance on 05/22/2020
    • Resistance on 05/23/2020
  • Ending of entry zone (0.1700)
    • Support on 11/25/2019
    • Support on 01/08/2020
    • Support on 01/10/2020
    • Support on 01/14/2020
    • Support on 01/15/2020
    • Support on 02/27/2020
    • Support on 02/28/2020
    • Resistance on 03/11/2020
    • Resistance on 05/01/2020
    • Resistance on 05/03/2020
    • Resistance on 05/06/2020
    • Resistance on 05/07/2020
    • Resistance on 05/11/2020
    • Support on 05/13/2020
DateSeptember 12, 2020 - 16:59
Currentdowntrend
Forecastbeginning of uptrend

Midterm forecast:

  • 0.7625 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 0.4838 on 09/07/2020, so more gains maximum to Major Resistance (0.7625) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 39.

Take Profits:

  1. 0.3545
  2. 0.4775
  3. 0.5785
  4. 0.8230
  5. 1.0395
  6. 1.4515
  7. 2.7205
  8. 3.5300
  9. 6.8690
Click on the level to view price action history.
Symbol Released Current Forecast
Eidoo (EDOUSD) Sun, 19 Sep 2021
Eidoo (EDOUSD) Sun, 12 Sep 2021
Eidoo (EDOUSD) Sun, 5 Sep 2021
Eidoo (EDOUSD) Sat, 28 Aug 2021
Eidoo (EDOUSD) Sat, 21 Aug 2021
History
Daily-Trading-Opportunities on EDOUSD.