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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD
Trade Setup

#GBPCAD
Total Profit: 887 pip
Closed trade(s): 601 pip Profit
Open trade(s): 286 pip Profit

Trade Setup:
We opened 14 BUY trades @ 1.51964 based on 'Valley' entry method at 2022-09-29.

Closed Profit:
TP1 @ 1.53011 touched at 2022-09-30 with 105 pip Profit.
TP2 @ 1.54027 touched at 2022-09-30 with 207 pip Profit.
TP3 @ 1.54846 touched at 2022-10-03 with 289 pip Profit.
105 + 207 + 289 = 601 pip

Open Profit:
Profit for one BUY trade is 1.52221(current price) - 1.51964(open price) = 26 pip
11 trade(s) still open, therefore total profit for open trade(s) is 26 x 11 = 286 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.
DateOctober 9, 2022 - 06:55
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.45211, beginning of uptrend is expected.
  • We make sure when the resistance at 1.57628 breaks.
  • If the support at 1.45211 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 1.55520 on 10/04/2022, so more losses to support(s) 1.50196, 1.46522 and minimum to Major Support (1.45211) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 51.

Take Profits:

  1. 1.53011
  2. 1.54027
  3. 1.54846
  4. 1.56132
  5. 1.57628
  6. 1.60016
  7. 1.61707
  8. 1.65062
  9. 1.66382
  10. 1.69541
  11. 1.73728
  12. 1.76000
  13. 1.80078
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / Canadian Dollar (GBPCAD) Sun, 14 Apr 2024
British Pound / Canadian Dollar (GBPCAD) Sun, 7 Apr 2024
British Pound / Canadian Dollar (GBPCAD) Sat, 30 Mar 2024
British Pound / Canadian Dollar (GBPCAD) Mon, 25 Mar 2024
British Pound / Canadian Dollar (GBPCAD) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on GBPCAD.