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

#GBPSGD
Total Profit: 11382 pip
Closed trade(s): 4502 pip Profit
Open trade(s): 6880 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 1.6288(current price) - 1.55995(open price) = 688 pip
10 trade(s) still open, therefore total profit for open trade(s) is 688 x 10 = 6880 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 1.57758 is broken, we will close open trades.

DateMarch 25, 2023 - 15:08
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.57758, resumption of uptrend is expected.
  • We make sure when the resistance at 1.67230 breaks.
  • If the support at 1.57758 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.57758 is broken.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
  • A trough is formed in daily chart at 1.61980 on 03/16/2023, so more gains to resistance(s) 1.62996, 1.64040, 1.65526 and maximum to Major Resistance (1.67230) 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 55.

Take Profits:

  1. 1.57758
  2. 1.58858
  3. 1.60207
  4. 1.62996
  5. 1.64040
  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.