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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF
Trade Setup

#GBPCHF
Total Profit: 5982 pip
Closed trade(s): 1285 pip Profit
Open trade(s): 4697 pip Profit

Trade Setup:
We opened 15 BUY trades @ 1.08245 based on 'Valley' entry method at 2022-09-29.

Closed Profit:
TP1 @ 1.09905 touched at 2022-09-30 with 166 pip Profit.
TP2 @ 1.10900 touched at 2022-10-03 with 265 pip Profit.
TP3 @ 1.12064 touched at 2022-10-03 with 381 pip Profit.
TP4 @ 1.12983 touched at 2022-10-13 with 473 pip Profit.
166 + 265 + 381 + 473 = 1285 pip

Open Profit:
Profit for one BUY trade is 1.12522(current price) - 1.08245(open price) = 427 pip
11 trade(s) still open, therefore total profit for open trade(s) is 427 x 11 = 4697 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 1.08950 is broken, we will close open trades.

DateOctober 18, 2022 - 21:16
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.08950, beginning of uptrend is expected.
  • We make sure when the resistance at 1.15271 breaks.
  • If the support at 1.08950 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.08950 is broken.

Technical analysis:

  • A trough is formed in daily chart at 1.08950 on 10/12/2022, so more gains to resistance(s) 1.12998, 1.14177 and maximum to Major Resistance (1.15271) 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 57.

Take Profits:

  1. 1.09905
  2. 1.10900
  3. 1.12064
  4. 1.12998
  5. 1.14177
  6. 1.15271
  7. 1.17204
  8. 1.18984
  9. 1.20076
  10. 1.22953
  11. 1.24464
  12. 1.25975
  13. 1.28095
  14. 1.34200
Click on the level to view price action history.