XRPUSD Update: Profit=92000 SL=12000 Reward/Risk > 7.6:1

Aug 5, 2020

Trade Setup summary:

Profit targets=92000 pip (4000 + 9000 + 12000 + 17700 + 22300 + 27000)
Stop Loss = 12000 pip
Reward/Risk > 7.6 : 1

Current Status:

Total Profit: 33000 pip
Closed trade(s): 22000 pip Profit
Open trade(s): 11000 pip Profit

Trade Setup:
We opened 5 BUY trade(s) @ 0.19000 based on 'previous Forecast' at 2020.07.16 :

Closed Profit:
TP1 @ 0.210 touched at 2020.07.23 with 2000 pip Profit.
TP2 @ 0.230 touched at 2020.07.26 with 4000 pip Profit.
TP3 @ 0.250 touched at 2020.07.29 with 6000 pip Profit.
TP4 @ 0.290 touched at 2020.08.01 with 10000 pip Profit.
2000 + 4000 + 6000 + 10000 = 22000

Open Profit:
Profit for one trade is 0.30000(current price) - 0.19000(open price) = 11000 pip
1 trade(s) still open, therefore total profit for open trade(s) is 11000 x 1 = 11000 pip

Technical analysis:
. XRPUSD 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 79.

New Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (0.250) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.

New Take Profits:
TP4= @ 0.290
TP5= @ 0.340
TP6= @ 0.370
TP7= @ 0.427
TP8= @ 0.473
TP9= @ 0.520

SL= Break below TP2

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