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Weekly forecast British Pound / New Zealand Dollar technical chart
Symbol GBPNZD

Download MT4 template file

Trade Setup

#GBPNZD
Total Profit: 7820 pip
Closed trade(s): 2550 pip Profit
Open trade(s): 5270 pip Profit

Trade Setup:
We opened 11 SELL trade(s) @ 1.9740 (day close price) based on 'Two-day reversal candle (Shooting Star)' at 2018.10.24 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.9640 touched at 2018.10.25 with 100 pip Profit.
TP2 @ 1.9545 touched at 2018.10.30 with 195 pip Profit.
TP3 @ 1.9435 touched at 2018.10.30 with 305 pip Profit.
TP4 @ 1.9245 touched at 2018.11.09 with 495 pip Profit.
TP5 @ 1.9095 touched at 2018.11.12 with 645 pip Profit.
TP6 @ 1.8930 touched at 2018.11.15 with 810 pip Profit.
100 + 195 + 305 + 495 + 645 + 810 = 2550 pip

Open Profit:
Profit for one trade is 1.9740(open price) - 1.8686(current price) = 1054 pip
5 trade(s) still open, therefore total profit for open trade(s) is 1054 x 5 = 5270 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 1.92450 is broken, we will close open trades.

DateNovember 18, 2018 - 22:13
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 1.92450 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 1.92450 is broken.

Technical analysis:

  • A peak is formed in daily chart at 2.0470 on 10/11/2018, so more losses to support(s) 1.8605, 1.7900, 1.7440 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. 1.9640
  2. 1.9545
  3. 1.9435
  4. 1.9245
  5. 1.9095
  6. 1.8930
  7. 1.8605
  8. 1.7900
  9. 1.7440
  10. 1.6705
Click on the level to view price action history.