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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD

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Trade Setup

#GBPAUD
Total Profit: 8586 pip
Closed trade(s): 2783 pip Profit
Open trade(s): 5803 pip Profit

Trade Setup:
We opened 13 SELL trade(s) @ 1.8333 (day close price) based on 'Peak & Close below 1.8370' at 2018.10.18 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.8215 touched at 2018.10.24 with 118 pip Profit.
TP2 @ 1.8110 touched at 2018.10.25 with 223 pip Profit.
TP3 @ 1.7940 touched at 2018.10.30 with 393 pip Profit.
TP4 @ 1.7800 touched at 2018.11.15 with 533 pip Profit.
TP5 @ 1.7650 touched at 2018.11.15 with 683 pip Profit.
TP6 @ 1.7500 touched at 2018.11.16 with 833 pip Profit.
118 + 223 + 393 + 533 + 683 + 833 = 2783 pip

Open Profit:
Profit for one trade is 1.8333(open price) - 1.7504(current price) = 829 pip
7 trade(s) still open, therefore total profit for open trade(s) is 829 x 7 = 5803 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 1.79400 is broken, we will close open trades.
  • Price may also reach 1.79400, 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.

DateNovember 17, 2018 - 19:53
Currentrange bound
Forecastbeginning 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 1.79400 would begin in Midterm.
  • We will close our open trades, if the Midterm level 1.79400 is broken.

Technical analysis:

  • The RSI support #1 at 50 is broken, so the probability of beginning of downtrend is increased.
  • While the RSI resistance #2 at 50 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 1.8065 on 11/13/2018, so more losses to support(s) 1.7500, 1.7285, 1.7065 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 26.

Take Profits:

  1. 1.8215
  2. 1.8110
  3. 1.7940
  4. 1.7800
  5. 1.7650
  6. 1.7500
  7. 1.7285
  8. 1.7065
  9. 1.6860
  10. 1.6550
  11. 1.6160
  12. 1.4375
Click on the level to view price action history.