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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF

Download MT4 template file

Trade Setup

#GBPCHF
Total Profit: 8040 pip
Closed trade(s): 3500 pip Profit
Open trade(s): 4540 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.
TP6 @ 1.2865 touched at 2018.08.08 with 740 pip Profit.
TP7 @ 1.2745 touched at 2018.08.09 with 860 pip Profit.
130 + 245 + 415 + 505 + 605 + 740 + 860 = 3500 pip

Open Profit:
Profit for one trade is 1.3605(open price) - 1.2697(current price) = 908 pip
5 trade(s) still open, therefore total profit for open trade(s) is 908 x 5 = 4540 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 1.30000 is broken, we will close open trades.

DateAugust 12, 2018 - 16:30
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 1.30000 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 1.30000 is broken.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.3040 on 08/02/2018, so more losses to support(s) 1.2645, 1.2470, 1.2220 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 23.

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.