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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

Download MT4 template file

Trade Setup

#CADJPY
Total Profit: 8358 pip
Closed trade(s): 3623 pip Profit
Open trade(s): 4735 pip Profit
_______________________________________________
Trade Setup:
We opened 13 SELL trade(s) @ 90.36 (day close price) based on 'Peak' at 2018.01.09 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 89.70 touched at 2018.01.10 with 66 pip Profit.
TP2 @ 88.75 touched at 2018.01.10 with 161 pip Profit.
TP3 @ 87.80 touched at 2018.01.30 with 256 pip Profit.
TP4 @ 86.20 touched at 2018.02.08 with 416 pip Profit.
TP5 @ 85.45 touched at 2018.02.13 with 491 pip Profit.
TP6 @ 84.55 touched at 2018.02.16 with 581 pip Profit.
TP7 @ 83.35 touched at 2018.02.28 with 701 pip Profit.
TP8 @ 80.85 touched at 2018.03.16 with 951 pip Profit.
66 + 161 + 256 + 416 + 491 + 581 + 701 + 951 = 3623 pip

Open Profit:
Profit for one trade is 90.36(open price) - 80.89(current price) = 947 pip
5 trade(s) still open, therefore total profit for open trade(s) is 947 x 5 = 4735 pip
_______________________________________________

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 83.500 is broken, we will close open trades.

DateMarch 17, 2018 - 18:45
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 83.500 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 83.500 is broken.

Technical analysis:

  • A peak is formed in daily chart at 83.50 on 03/12/2018, so more losses to support(s) 80.85, 78.90, 75.40 and more depths 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 27.

Take Profits:

  1. 89.70
  2. 88.75
  3. 87.80
  4. 86.20
  5. 85.45
  6. 84.55
  7. 83.35
  8. 80.85
  9. 78.90
  10. 75.40
  11. 72.15
  12. 68.85
Click on the level to view price action history.