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

#GBPCAD
Total Profit: 12618 pip
Closed trade(s): 6118 pip Profit
Open trade(s): 6500 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.
TP8 @ 1.65062 touched at 2022-12-01 with 1310 pip Profit.
TP9 @ 1.66382 touched at 2022-12-06 with 1442 pip Profit.
105 + 207 + 289 + 417 + 567 + 806 + 975 + 1310 + 1442 = 6118 pip

Open Profit:
Profit for one BUY trade is 1.64955(current price) - 1.51964(open price) = 1300 pip
5 trade(s) still open, therefore total profit for open trade(s) is 1300 x 5 = 6500 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.
DateJanuary 29, 2023 - 21:53
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.57628, resumption of uptrend is expected.
  • We make sure when the resistance at 1.68482 breaks.
  • If the support at 1.57628 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.57628 is broken.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of resumption of uptrend is decreased.
  • A peak is formed in daily chart at 1.66890 on 01/19/2023, so more losses to support(s) 1.62950, 1.61707, 1.60016 and minimum to Major Support (1.57628) 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 54.

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. 1.69380
  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 Sun, 26 Mar 2023
British Pound / Canadian Dollar (GBPCAD) free Sat, 18 Mar 2023
British Pound / Canadian Dollar (GBPCAD) free Sun, 12 Mar 2023
British Pound / Canadian Dollar (GBPCAD) Sun, 5 Mar 2023
British Pound / Canadian Dollar (GBPCAD) free Sun, 26 Feb 2023
History
Daily-Trading-Opportunities on GBPCAD.