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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

Download MT4 template file

Trade Setup

#GBPUSD
Total Profit: 5902 pip
Closed trade(s): 1184 pip Profit
Open trade(s): 4718 pip Profit

Trade Setup:
We opened 11 SELL trade(s) @ 1.4201 (day close price) based on 'Peak' at 2018.04.18 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.4145 touched at 2018.04.19 with 56 pip Profit.
TP2 @ 1.4055 touched at 2018.04.20 with 146 pip Profit.
TP3 @ 1.3765 touched at 2018.04.27 with 436 pip Profit.
TP4 @ 1.3655 touched at 2018.05.01 with 546 pip Profit.
56 + 146 + 436 + 546 = 1184 pip

Open Profit:
Profit for one trade is 1.4201(open price) - 1.3527(current price) = 674 pip
7 trade(s) still open, therefore total profit for open trade(s) is 674 x 7 = 4718 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 1.37650 is broken, we will close open trades.

DateMay 5, 2018 - 20:11
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 1.37650 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 1.37650 is broken.

Technical analysis:

  • A peak is formed in daily chart at 1.4375 on 04/17/2018, so more losses to support(s) 1.3460, 1.3280, 1.3170 and more depths 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 24.

Take Profits:

  1. 1.4145
  2. 1.4055
  3. 1.3765
  4. 1.3655
  5. 1.3460
  6. 1.3280
  7. 1.3170
  8. 1.3025
  9. 1.2770
  10. 1.1990
Click on the level to view price action history.

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