GBPJPY - Weekly forecast, Technical Analysis & Trading Ideas

30 gru 2024

Midterm forecast: (Daily Time-frame)

While the price is below the resistance 199.79, resumption of downtrend is expected.

Technical analysis:

The descending flag taking shape suggests we will soon see another leg lower.

Trading suggestion:

Price rejected from Trend Hunter Sell Zone (198.42 to 199.79). We are going to open 8 sell trade based on these Take Profits:

Take Profits:

1. 196.00
   
2. 193.51
   
3. 191.88
   
4. 189.47
   
5. 186.23
   
6. 182.78
   
7. 178.41
   

Short Term forecast: (H4 Time-frame)

1. The Uptrend is broken, and the price is in an impulse wave.
   
2. Correction wave toward the Sell Zone.
   
3. Another Downward Impulse wave toward Lower TPs.
   

SL: Above 199.79

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ForecastCity Support Team

4 sty

Zlecenie aktywne

#GBPJPY
Total Profit: 928 pip
Closed trade(s): 67 pip Profit
Open trade(s): 861 pip Profit

Trade Setup:
We opened 8 SELL trades @ 196.68

Closed Profit:
TP1 @ 196.006 touched at 2024-12-31 with 67 pip Profit.

Open Profit:
Profit for one SELL trade is 196.68(open price) - 195.445(current price) = 123 pip
7 trade(s) still open, therefore total profit for open trade(s) is 123 x 7 = 861 pip

7 dni temu

Uwaga

Total Profit: 2742 pip
Closed trade(s): 384 pip Profit
Open trade(s): 2358 pip Profit

Trade Setup:
We opened 8 SELL trades @ 196.68 based on 'Peak' entry method at 2024-12-30, signaled by DTO

Closed Profit:
TP1 @ 196.006 touched at 2024-12-31 with 67 pip Profit.
TP2 @ 193.510 touched at 2025-01-09 with 317 pip Profit.
67 + 317 = 384 pip

Open Profit:
Profit for one SELL trade is 196.68(open price) - 192.746(current price) = 393 pip
6 trade(s) still open, therefore total profit for open trade(s) is 393 x 6 = 2358 pip