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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

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Trade Setup

#GBPUSD
Total Profit: 4509 pip
Closed trade(s): 669 pip Profit
Open trade(s): 3840 pip Profit
_______________________________________________
Trade Setup:
We opened 13 BUY trade(s) @ 1.2507 based on 'Hammer' entry method at 2017.02.07.

Closed Profit:
TP1 @ 1.2555 touched at 2017.02.09 with 48 pip Profit.
TP2 @ 1.2725 touched at 2017.04.18 with 218 pip Profit.
TP3 @ 1.2910 touched at 2017.04.27 with 403 pip Profit.
48 + 218 + 403 = 669 pip

Open Profit:
Profit for one trade is 1.2891(current price) - 1.2507(open price) = 384 pip
10 trade(s) still open, therefore total profit for open trade(s) is 384 x 10 = 3840 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.2155 to 1.1890). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.2155)
    • Support on 03/14/2017
    • Support on 03/13/2017
    • Support on 03/12/2017
    • Support on 03/10/2017
    • Support on 03/09/2017
    • Support on 03/08/2017
    • Support on 03/07/2017
    • Support on 01/13/2017
    • Support on 01/12/2017
    • Support on 01/11/2017
    • Support on 01/10/2017
    • Support on 01/09/2017
    • Support on 10/31/2016
    • Support on 10/28/2016
    • Support on 10/27/2016
    • Support on 10/26/2016
    • Support on 10/25/2016
    • Support on 10/21/2016
    • Support on 10/18/2016
    • Support on 10/17/2016
    • Support on 10/14/2016
    • Support on 10/13/2016
    • Support on 10/07/2016
  • Ending of entry zone (1.1890)
    • Support on 10/07/2016

DateJune 4, 2017 - 10:28
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • The current trend is uptrend and the forecast is continuation of uptrend.

Technical analysis:

  • A peak is formed in daily chart at 1.2990 on 05/08/2017, so more losses to support(s) 1.2725, 1.2555 and minimum to Trend Hunter Buy Zone (1.2155 to 1.1890) 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 52.

Take Profits:

  1. 1.2555
  2. 1.2725
  3. 1.2910
  4. 1.3120
  5. 1.3500
  6. 1.3835
  7. 1.4045
  8. 1.4565
  9. 1.4950
  10. 1.5815
  11. 1.6455
  12. 1.7180
Click on the level to view price action history.

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