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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD

Download MT4 template file

Trade Setup

#GBPCAD
Total Profit: 10530 pip
Closed trade(s): 3375 pip Profit
Open trade(s): 7155 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 1.6830(current price) - 1.6035(open price) = 795 pip
9 trade(s) still open, therefore total profit for open trade(s) is 795 x 9 = 7155 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 1.67950 is broken, we will close open trades.

DateJanuary 6, 2018 - 22:02
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.67950 would begin in Midterm.
  • We will close our open trades, if the Midterm level 1.67950 is broken.

Technical analysis:

  • A peak is formed in daily chart at 1.7380 on 12/08/2017, so more losses to support(s) 1.6720, 1.6395, 1.6230 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 40.

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.