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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD
Trade Setup

#GBPCAD
Total Profit: 14153 pip
Closed trade(s): 6118 pip Profit
Open trade(s): 8035 pip Profit

Trade Setup:
We opened 14 BUY trades @ 1.51964 based on 'Valley' entry method at 2022-09-29.

Closed Profit:
TP1 @ 1.53011 touched at 2022-09-30 with 105 pip Profit.
TP2 @ 1.54027 touched at 2022-09-30 with 207 pip Profit.
TP3 @ 1.54846 touched at 2022-10-03 with 289 pip Profit.
TP4 @ 1.56132 touched at 2022-10-13 with 417 pip Profit.
TP5 @ 1.57628 touched at 2022-10-26 with 567 pip Profit.
TP6 @ 1.60016 touched at 2022-11-23 with 806 pip Profit.
TP7 @ 1.61707 touched at 2022-11-23 with 975 pip Profit.
TP8 @ 1.65062 touched at 2022-12-01 with 1310 pip Profit.
TP9 @ 1.66382 touched at 2022-12-06 with 1442 pip Profit.
105 + 207 + 289 + 417 + 567 + 806 + 975 + 1310 + 1442 = 6118 pip

Open Profit:
Profit for one BUY trade is 1.68029(current price) - 1.51964(open price) = 1607 pip
5 trade(s) still open, therefore total profit for open trade(s) is 1607 x 5 = 8035 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 1.60016 is broken, we will close open trades.

DateMarch 26, 2023 - 05:16
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.60016, resumption of uptrend is expected.
  • We make sure when the resistance at 1.68482 breaks.
  • If the support at 1.60016 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.60016 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 1.62445 on 03/08/2023, so more gains maximum to Major Resistance (1.68482) 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 64.

Take Profits:

  1. 1.53011
  2. 1.54027
  3. 1.54846
  4. 1.56132
  5. 1.57628
  6. 1.60016
  7. 1.61707
  8. 1.65100
  9. 1.66382
  10. 1.69692
  11. 1.73728
  12. 1.76000
  13. 1.80078
Click on the level to view price action history.