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Trend Hunter performance since 2015 for this symbol

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Weekly forecast British Pound vs. US Dollar technical chart
Symbol GBPUSD

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Trade Setup
#GBPUSD
Total Profit: 1379 pip
Closed trade(s): 294 pip Profit
Open trade(s): 1085 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 1.2287 (day close price) based on 'Two-day reversal candle(Hammer)' at 2019.08.27 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.2300 touched at 2019.09.05 with 13 pip Profit.
TP2 @ 1.2380 touched at 2019.09.09 with 93 pip Profit.
TP3 @ 1.2475 touched at 2019.09.13 with 188 pip Profit.
13 + 93 + 188 = 294 pip

Open Profit:
Profit for one trade is 1.2504(current price) - 1.2287(open price) = 217 pip
5 trade(s) still open, therefore total profit for open trade(s) is 217 x 5 = 1085 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 1.2300 is broken, we will close open trades.
  • Price may also reach 1.2300, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.

DateSat, 09/14/2019 - 20:18
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 1.2300, beginning of uptrend is expected.
  • We make sure when the resistance at 1.2655 breaks.
  • If the support at 1.2300 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.2300 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 1.20145 on 2019-08-12 and the trough at 1.19575 on 2019-09-03, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1.1960 on 09/03/2019, so more gains maximum to Major Resistance (1.2655) 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 66.

Take Profits:

  1. 1.2300
  2. 1.2380
  3. 1.2475
  4. 1.2655
  5. 1.2865
  6. 1.3170
  7. 1.3380
Click on the level to view price action history.

Symbol Released Current Forecast
British Pound vs. US Dollar (GBPUSD) new Sat, 19 Oct 2019
British Pound vs. US Dollar (GBPUSD) free Sat, 12 Oct 2019
British Pound vs. US Dollar (GBPUSD) free Sat, 5 Oct 2019
British Pound vs. US Dollar (GBPUSD) Sat, 28 Sep 2019
British Pound vs. US Dollar (GBPUSD) Sat, 21 Sep 2019