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

#GBPSGD
Total Profit: 14457 pip
Closed trade(s): 3380 pip Profit
Open trade(s): 11077 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.
TP4 @ 1.62996 touched at 2022-10-04 with 700 pip Profit.
TP5 @ 1.64030 touched at 2022-11-23 with 803 pip Profit.
TP6 @ 1.65526 touched at 2022-11-23 with 953 pip Profit.
176 + 313 + 435 + 700 + 803 + 953 = 3380 pip

Open Profit:
Profit for one BUY trade is 1.66067(current price) - 1.55995(open price) = 1007 pip
11 trade(s) still open, therefore total profit for open trade(s) is 1007 x 11 = 11077 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.
  • If the Midterm level 1.64030 is broken, we will close open trades.

DateNovember 23, 2022 - 20:25
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 1.64030 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 1.64030 is broken.

Technical analysis:

  • While the RSI support #1 at 42 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 1.57405 on 11/04/2022, so more gains to resistance(s) 1.67223, 1.68554, 1.69696 and more heights 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 65.

Take Profits:

  1. 1.57758
  2. 1.59127
  3. 1.60347
  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.