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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD

Download MT4 template file

Trade Setup

#GBPAUD
Total Profit: 6736 pip
Closed trade(s): 1500 pip Profit
Open trade(s): 5236 pip Profit

Trade Setup:
We opened 10 SELL trade(s) @ 1.8170 (day close price) based on 'Peak' at 2018.04.27 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.7995 touched at 2018.05.04 with 175 pip Profit.
TP2 @ 1.7650 touched at 2018.05.23 with 520 pip Profit.
TP3 @ 1.7365 touched at 2018.08.08 with 805 pip Profit.
175 + 520 + 805 = 1500 pip

Open Profit:
Profit for one trade is 1.8170(open price) - 1.7422(current price) = 748 pip
7 trade(s) still open, therefore total profit for open trade(s) is 748 x 7 = 5236 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 1.76500 is broken, we will close open trades.
  • Price may also reach 1.76500, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.

DateAugust 19, 2018 - 13:02
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.76500 would begin in Midterm.
  • We will close our open trades, if the Midterm level 1.76500 is broken.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.7655 on 08/14/2018, so more losses to support(s) 1.7365, 1.7065, 1.6860 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 38.

Take Profits:

  1. 1.7995
  2. 1.7650
  3. 1.7365
  4. 1.7065
  5. 1.6860
  6. 1.6550
  7. 1.6160
  8. 1.5790
  9. 1.4375
Click on the level to view price action history.