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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF

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Trade Setup

#GBPCHF
Total Profit: 440 pip
Closed trade(s): 41 pip Profit
Open trade(s): 399 pip Profit
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Trade Setup:
We opened 8 SELL trade(s) @ 1.2995 based on 'Peak' entry method at 2018.02.28.

Closed Profit:
TP1 @ 1.2955 touched at 2018.03.02 with 41 pip Profit.

Open Profit:
Profit for one trade is 1.2995(open price) - 1.2938(current price) = 57 pip
7 trade(s) still open, therefore total profit for open trade(s) is 57 x 7 = 399 pip
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Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateMarch 3, 2018 - 20:23
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.31450 would begin in Midterm.

Technical analysis:

  • A peak is formed in daily chart at 1.3120 on 02/20/2018, so more losses to support(s) 1.2840, 1.2745, 1.2645 and more depths 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 38.

Take Profits:

  1. 1.2955
  2. 1.2840
  3. 1.2745
  4. 1.2645
  5. 1.2470
  6. 1.2220
  7. 1.1900
Click on the level to view price action history.