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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

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Trade Setup

#GBPUSD
Total Profit: 7661 pip
Closed trade(s): 3877 pip Profit
Open trade(s): 3784 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.
TP5 @ 1.3460 touched at 2018.05.10 with 741 pip Profit.
TP6 @ 1.3280 touched at 2018.05.29 with 921 pip Profit.
TP7 @ 1.3170 touched at 2018.06.19 with 1031 pip Profit.
56 + 146 + 436 + 546 + 741 + 921 + 1031 = 3877 pip

Open Profit:
Profit for one trade is 1.4201(open price) - 1.3255(current price) = 946 pip
4 trade(s) still open, therefore total profit for open trade(s) is 946 x 4 = 3784 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.
  • Price may also reach 1.37650, 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.

DateJune 24, 2018 - 12:53
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:

  • There is a divergence in RSI and price between the trough at 1.3205 on 2018-05-29 and the trough at 1.31 on 2018-06-21, the probability of downtrend continuation is decreased and the probability of beginning the correction wave is increased.
  • The RSI bounced from the uptrend #1 and it prevented price from more losses.
  • While the RSI resistance #2 at 50 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 1.3100 on 06/21/2018, so more gains to resistance(s) 1.3280, 1.3460, 1.3655 and maximum to Major Resistance (1.3765) 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 39.

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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