AUDCHF Update: Profit=1160 pip SL=450 pip Reward/Risk > 2.6:1

22 Jul 2020

Trade Setup summary:
Profit targets=1160 pip (75 + 155 + 250 + 305 + 375)
Stop Loss =450 pip
Reward/Risk > 2.6 : 1

Current Status:

Total Profit: 424 pip
Closed trade(s): 72 pip Profit
Open trade(s): 352 pip Profit

Trade Setup:
We opened 5 BUY trade(s) @ 0.6583 based on 'previous Forecast' at 2020.07.15 :

Closed Profit:
TP1 @ 0.6655 touched at 2020.07.21 with 72 pip Profit.

Open Profit:
Profit for one trade is 0.6671 (current price) - 0.6583(open price) = 88 pip
4 trade(s) still open, therefore total profit for open trade(s) is 88 x 4 = 352 pip
Break Even 0.658

Technical analysis:
. AUDCHF is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 72.

Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (0.658) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.

Take Profits:
TP1= @ 0.6655
TP2= @ 0.6735
TP3= @ 0.6830
TP4= @ 0.6885
TP5= @ 0.6955

SL= Break below S2

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