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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD
Trade Setup

#GBPAUD
Total Profit: 5493 pip
Closed trade(s): 3823 pip Profit
Open trade(s): 1670 pip Profit

Trade Setup:
We opened 12 BUY trades @ 1.70933 based on 'valley' entry method at 2022-09-29.

Closed Profit:
TP1 @ 1.71855 touched at 2022-09-30 with 93 pip Profit.
TP2 @ 1.72944 touched at 2022-09-30 with 201 pip Profit.
TP3 @ 1.74305 touched at 2022-09-30 with 338 pip Profit.
TP4 @ 1.76387 touched at 2022-10-04 with 546 pip Profit.
TP5 @ 1.77888 touched at 2022-10-13 with 696 pip Profit.
TP6 @ 1.79830 touched at 2022-10-13 with 890 pip Profit.
TP7 @ 1.81515 touched at 2022-10-17 with 1059 pip Profit.
93 + 201 + 338 + 546 + 696 + 890 + 1059 = 3823 pip

Open Profit:
Profit for one BUY trade is 1.74274(current price) - 1.70933(open price) = 334 pip
5 trade(s) still open, therefore total profit for open trade(s) is 334 x 5 = 1670 pip

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.
  • If the Midterm level 1.71855 is broken, we will close open trades.

DateJanuary 29, 2023 - 21:49
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.71855, resumption of uptrend is expected.
  • We make sure when the resistance at 1.83859 breaks.
  • If the support at 1.71855 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.71855 is broken.

Technical analysis:

  • A peak is formed in daily chart at 1.79600 on 01/19/2023, so more losses to support(s) 1.72944 and minimum to Major Support (1.71855) 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 38.

Take Profits:

  1. 1.71855
  2. 1.72944
  3. 1.74306
  4. 1.76387
  5. 1.77800
  6. 1.79830
  7. 1.81515
  8. 1.83859
  9. 1.87528
  10. 1.89575
  11. 1.92135
Click on the level to view price action history.