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

#GBPCAD
Total Profit: 9827 pip
Closed trade(s): 3366 pip Profit
Open trade(s): 6461 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.
TP4 @ 1.56132 touched at 2022-10-13 with 417 pip Profit.
TP5 @ 1.57628 touched at 2022-10-26 with 567 pip Profit.
TP6 @ 1.60016 touched at 2022-11-23 with 806 pip Profit.
TP7 @ 1.61707 touched at 2022-11-23 with 975 pip Profit.
105 + 207 + 289 + 417 + 567 + 806 + 975 = 3366 pip

Open Profit:
Profit for one BUY trade is 1.61187(current price) - 1.51964(open price) = 923 pip
7 trade(s) still open, therefore total profit for open trade(s) is 923 x 7 = 6461 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 1.57628 is broken, we will close open trades.

DateNovember 23, 2022 - 20:00
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 1.57628 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 1.57628 is broken.

Technical analysis:

  • While the RSI support #1 at 45 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 1.51675 on 11/04/2022, so more gains to resistance(s) 1.61707, 1.62950, 1.65062 and more heights 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 68.

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) new free Wed, 23 Nov 2022
British Pound / Canadian Dollar (GBPCAD) free Sun, 20 Nov 2022
British Pound / Canadian Dollar (GBPCAD) Sun, 13 Nov 2022
British Pound / Canadian Dollar (GBPCAD) Sun, 6 Nov 2022
British Pound / Canadian Dollar (GBPCAD) free Sun, 30 Oct 2022