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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD

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Trade Setup

#GBPCAD
Total Profit: 9146 pip
Closed trade(s): 2176 pip Profit
Open trade(s): 6970 pip Profit
_______________________________________________
Trade Setup:
We opened 14 BUY trade(s) @ 1.6036 (day close price) based on 'Valley' at 2017.09.08 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.6230 touched at 2017.09.14 with 194 pip Profit.
TP2 @ 1.6395 touched at 2017.09.15 with 359 pip Profit.
TP3 @ 1.6720 touched at 2017.09.21 with 684 pip Profit.
TP4 @ 1.6975 touched at 2017.10.25 with 939 pip Profit.
194 + 359 + 684 + 939 = 2176 pip

Open Profit:
Profit for one trade is 1.6732(current price) - 1.6036(open price) = 697 pip
10 trade(s) still open, therefore total profit for open trade(s) is 697 x 10 = 6970 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.6000 to 1.5755). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.6000)
    • Support on 09/14/2017
    • Support on 09/05/2017
    • Support on 08/25/2017
    • Support on 08/24/2017
    • Support on 01/11/2017
    • Support on 01/10/2017
    • Support on 10/19/2016
    • Resistance on 10/17/2016
    • Support on 10/14/2016
    • Peak on 11/09/2012
    • Peak on 06/12/2012
    • Peak on 12/13/2010
  • Ending of entry zone (1.5755)
    • Support on 01/16/2017
    • Trough on 10/07/2016
    • Support on 10/07/2016

DateNovember 11, 2017 - 22:22
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • The current trend is uptrend and the forecast is continuation of uptrend.

Technical analysis:

  • A peak is formed in daily chart at 1.6835 on 11/07/2017, so more losses to support(s) 1.6720, 1.6395, 1.6230 and minimum to Trend Hunter Buy Zone (1.6000 to 1.5755) 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. 1.6230
  2. 1.6395
  3. 1.6720
  4. 1.6975
  5. 1.7230
  6. 1.7540
  7. 1.7820
  8. 1.8100
  9. 1.8355
  10. 1.8980
  11. 1.9270
  12. 1.9765
  13. 2.0965
Click on the level to view price action history.