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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF

Download MT4 template file

Trade Setup

#GBPCHF
Total Profit: 5946 pip
Closed trade(s): 1900 pip Profit
Open trade(s): 4046 pip Profit

Trade Setup:
We opened 12 SELL trade(s) @ 1.3605 (day close price) based on 'Peak' at 2018.04.27 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.3475 touched at 2018.05.16 with 130 pip Profit.
TP2 @ 1.3360 touched at 2018.05.22 with 245 pip Profit.
TP3 @ 1.3190 touched at 2018.05.23 with 415 pip Profit.
TP4 @ 1.3100 touched at 2018.05.29 with 505 pip Profit.
TP5 @ 1.3000 touched at 2018.07.19 with 605 pip Profit.
130 + 245 + 415 + 505 + 605 = 1900 pip

Open Profit:
Profit for one trade is 1.3605(open price) - 1.3027(current price) = 578 pip
7 trade(s) still open, therefore total profit for open trade(s) is 578 x 7 = 4046 pip

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.
  • If the Midterm level 1.32700 is broken, we will close open trades.
  • Price may also reach 1.32700, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.
DateJuly 22, 2018 - 15:05
Currentrange bound
Forecastresumption 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 1.32700 would begin in Midterm.
  • We will close our open trades, if the Midterm level 1.32700 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 1.305 on 2018-05-29 and the trough at 1.3025 on 2018-06-29, the probability of downtrend continuation is decreased and the probability of beginning the correction wave is increased.
  • While the RSI resistance #1 at 60 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 1.3265 on 07/16/2018, so more losses to support(s) 1.3000, 1.2865, 1.2745 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 39.

Take Profits:

  1. 1.3475
  2. 1.3360
  3. 1.3190
  4. 1.3100
  5. 1.3000
  6. 1.2865
  7. 1.2745
  8. 1.2645
  9. 1.2470
  10. 1.2220
  11. 1.1900
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / Swiss Franc (GBPCHF) Sun, 14 Apr 2024
British Pound / Swiss Franc (GBPCHF) Sun, 7 Apr 2024
British Pound / Swiss Franc (GBPCHF) Sat, 30 Mar 2024
British Pound / Swiss Franc (GBPCHF) Sun, 24 Mar 2024
British Pound / Swiss Franc (GBPCHF) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on GBPCHF.