GBPCAD Update: Profit=14920 pip SL=3000 Reward/Risk > 4.9 :1

Trade Setup summary:

Profit targets=14920 pip (750 + 1230 + 2690 + 3850 + 6400)
Stop Loss =3000 pip
Reward/Risk > 4.9: 1

Current Status:

Total Profit: 3588 pip
Closed trade(s): 1980 pip Profit
Open trade(s): 1608 pip Profit

Trade Setup:

We opened 5 BUY trade(s) @ 1.74050 based on 'previous Forecast' at 2020.08.05 :

Closed Profit:
TP1 @ 1.7480 touched at 2020.08.06 with 750 pip Profit.
TP2 @ 1.7528 touched at 2020.08.06 with 1230 pip Profit.
750 + 1230 = 1980

Open Profit:

Profit for one trade is 1.74586(current price) - 1.74050(open price) = 536 pip
3 trade(s) still open, therefore total profit for open trade(s) is 536 x 3 = 1608 pip

Technical analysis:
. GBPCAD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 50.

New Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (1.7405) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.

New Take Profits:
TP1= @ 1.7480
TP2= @ 1.7528
TP3= @ 1.7674
TP4= @ 1.7790
TP5= @ 1.8045

SL= Break below S2

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