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Trend Hunter performance since 2015 for this symbol

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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD

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Trade Setup
#GBPCAD
Total Profit: -1983 pip
Closed trade(s): 78 pip Profit
Open trade(s): -2061 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 1.6341 (day close price) based on 'Valley' at 2019.07.18 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.6420 touched at 2019.07.24 with 78 pip Profit.

Open Profit:
Profit for one trade is 1.6113(current price) - 1.6341(open price) = -229 pip
9 trade(s) still open, therefore total profit for open trade(s) is -229 x 9 = -2061 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.

DateSat, 08/17/2019 - 21:51
Currentdowntrend
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 1.5735, beginning of uptrend is expected.
  • We make sure when the resistance at 1.6585 breaks.
  • If the support at 1.5735 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI resistance #1 at 43 is broken, so the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 1.6215 on 08/07/2019, so more losses to support(s) 1.6000 and minimum to Major Support (1.5735) 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 46.

Take Profits:

  1. 1.6420
  2. 1.6585
  3. 1.6770
  4. 1.6975
  5. 1.7135
  6. 1.7315
  7. 1.7535
  8. 1.7725
  9. 1.8415
Click on the level to view price action history.