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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD

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Trade Setup

#GBPCAD
Total Profit: 12078 pip
Closed trade(s): 3375 pip Profit
Open trade(s): 8703 pip Profit
_______________________________________________
Trade Setup:
We opened 14 BUY trade(s) @ 1.6035 (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 195 pip Profit.
TP2 @ 1.6395 touched at 2017.09.15 with 360 pip Profit.
TP3 @ 1.6720 touched at 2017.09.21 with 685 pip Profit.
TP4 @ 1.6975 touched at 2017.10.25 with 940 pip Profit.
TP5 @ 1.7230 touched at 2017.11.29 with 1195 pip Profit.
195 + 360 + 685 + 940 + 1195 = 3375 pip

Open Profit:
Profit for one trade is 1.7002(current price) - 1.6035(open price) = 967 pip
9 trade(s) still open, therefore total profit for open trade(s) is 967 x 9 = 8703 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 1.69150 is broken, we will close open trades.

DateDecember 24, 2017 - 10:46
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 1.69150 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 1.69150 is broken.

Technical analysis:

  • A peak is formed in daily chart at 1.7380 on 12/08/2017, so more losses to support(s) 1.6975, 1.6720, 1.6395 and minimum to Trend Hunter Buy Zone (1.6000 to 1.5755) 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 47.

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.