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

#GBPSGD
Total Profit: 14972 pip
Closed trade(s): 4502 pip Profit
Open trade(s): 10470 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.
TP7 @ 1.67223 touched at 2022-12-14 with 1122 pip Profit.
176 + 313 + 435 + 700 + 803 + 953 + 1122 = 4502 pip

Open Profit:
Profit for one BUY trade is 1.66473(current price) - 1.55995(open price) = 1047 pip
10 trade(s) still open, therefore total profit for open trade(s) is 1047 x 10 = 10470 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 1.63967 is broken, we will close open trades.
DateMay 28, 2023 - 21:15
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.63967, resumption of uptrend is expected.
  • We make sure when the resistance at 1.67680 breaks.
  • If the support at 1.63967 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.63967 is broken.

Technical analysis:

  • While the RSI support #1 at 50 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 1.67720 on 05/10/2023, so more losses to support(s) 1.65526 and minimum to Major Support (1.63967) 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 50.

Take Profits:

  1. 1.57758
  2. 1.58858
  3. 1.60207
  4. 1.62996
  5. 1.63967
  6. 1.65526
  7. 1.67230
  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.
Symbol Released Current Forecast
British Pound / Singapore Dollar (GBPSGD) Sat, 16 Sep 2023
British Pound / Singapore Dollar (GBPSGD) Sun, 10 Sep 2023
British Pound / Singapore Dollar (GBPSGD) Sun, 3 Sep 2023
British Pound / Singapore Dollar (GBPSGD) Sun, 27 Aug 2023
British Pound / Singapore Dollar (GBPSGD) Sun, 20 Aug 2023
History
Daily-Trading-Opportunities on GBPSGD.