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Weekly forecast British Pound vs. Canadian Dollar technical chart
Symbol GBPCAD

Download MT4 template file

Trade Setup

#GBPCAD
Total Profit: 15736 pip
Closed trade(s): 4880 pip Profit
Open trade(s): 10856 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.
TP6 @ 1.7540 touched at 2018.01.24 with 1505 pip Profit.
195 + 360 + 685 + 940 + 1195 + 1505 = 4880 pip

Open Profit:
Profit for one trade is 1.7392(current price) - 1.6035(open price) = 1357 pip
8 trade(s) still open, therefore total profit for open trade(s) is 1357 x 8 = 10856 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 1.7165 is broken, we will close these trades.

DateSun, 02/11/2018 - 12:53
Currentuptrend
Forecastending of uptrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 1.7855, ending of uptrend is expected.
  • We make sure when the support at 1.7165 breaks.
  • If the resistance at 1.7855 is broken, the short-term forecast -ending of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.7165 is broken.

Technical analysis:

  • A peak is formed in daily chart at 1.7665 on 02/08/2018, so more losses to support(s) 1.7230, 1.6975, 1.6720 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 54.

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.

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