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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD

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Trade Setup

#GBPCAD
Total Profit: 18593 pip
Closed trade(s): 18593 pip Profit
Open trade(s): 0 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.
TP7 @ 1.7820 touched at 2018.03.05 with 1785 pip Profit.
195 + 360 + 685 + 940 + 1195 + 1505 + 1785 = 6665 pip

Closed Profit:
Profit for one trade is 1.7739(current price) - 1.6035(open price) = 1704 pip
7 trade(s) closed at market price as trend direction is changed, therefore total profit will increase by 1704 x 7 = 11928 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.7820 to 1.8100). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (1.7820)
    • Resistance on 05/18/2017
    • Resistance on 05/10/2017
    • Resistance on 05/05/2017
    • Support on 01/09/2015
    • Support on 01/08/2015
    • Support on 11/13/2014
    • Support on 11/12/2014
    • Support on 09/19/2014
    • Support on 09/17/2014
    • Support on 09/16/2014
    • Support on 01/17/2014
    • Support on 01/16/2014
    • Support on 01/10/2014
    • Resistance on 01/08/2014
    • Resistance on 11/17/2009
  • Ending of entry zone (1.8100)
    • Support on 06/15/2016
    • Support on 06/14/2016
    • Support on 06/13/2016
    • Support on 06/10/2016
    • Trough on 04/25/2016
    • Trough on 04/22/2016
    • Trough on 04/21/2016
    • Support on 04/21/2016

DateMarch 11, 2018 - 20:32
Currentuptrend
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.80500, beginning of downtrend is expected.
  • We make sure when the support at 1.75350 breaks.
  • If the resistance at 1.80500 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 1.8050 on 03/07/2018, so more losses to support(s) 1.7535, 1.7230, 1.6975 and more depths 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 55.

Take Profits:

  1. 1.7535
  2. 1.7230
  3. 1.6975
  4. 1.6720
  5. 1.6395
  6. 1.6230
  7. 1.5755
  8. 1.5285
  9. 1.4830
Click on the level to view price action history.