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Weekly forecast British Pound / Singapore Dollar technical chart
Symbol GBPSGD
Trade Setup

#GBPSGD
Total Profit: 6762 pip
Closed trade(s): 924 pip Profit
Open trade(s): 5838 pip Profit

Trade Setup:
We opened 17 BUY trades @ 1.55995 based on 'Valley' entry method at 2022-09-28.

Closed Profit:
TP1 @ 1.57758 touched at 2022-09-29 with 176 pip Profit.
TP2 @ 1.59127 touched at 2022-09-30 with 313 pip Profit.
TP3 @ 1.60348 touched at 2022-09-30 with 435 pip Profit.
176 + 313 + 435 = 924 pip

Open Profit:
Profit for one BUY trade is 1.60165(current price) - 1.55995(open price) = 417 pip
14 trade(s) still open, therefore total profit for open trade(s) is 417 x 14 = 5838 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.

DateOctober 1, 2022 - 21:44
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.48201, beginning of uptrend is expected.
  • We make sure when the resistance at 1.60348 breaks.
  • If the support at 1.48201 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 1.48175 on 09/26/2022, so more gains maximum to Major Resistance (1.60348) 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 50.

Take Profits:

  1. 1.57758
  2. 1.59127
  3. 1.60348
  4. 1.62996
  5. 1.64030
  6. 1.65526
  7. 1.67223
  8. 1.69696
  9. 1.70740
  10. 1.73239
  11. 1.75595
  12. 1.76968
  13. 1.78550
  14. 1.80660
  15. 1.83200
  16. 1.85050
Click on the level to view price action history.