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Weekly forecast Gold technical chart
Symbol XAUUSD

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Trade Setup
#XAUUSD
Total Profit: 57348 pip
Closed trade(s): 40967 pip Profit
Open trade(s): 16381 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 1296.14 based on 'Valley' entry method at 2019.05.15.

Closed Profit:
TP1 @ 1303.25 touched at 2019.05.31 with 711 pip Profit.
TP2 @ 1310.55 touched at 2019.06.03 with 1441 pip Profit.
TP3 @ 1323.70 touched at 2019.06.03 with 2756 pip Profit.
TP4 @ 1346.60 touched at 2019.06.07 with 5046 pip Profit.
TP5 @ 1375.05 touched at 2019.06.20 with 7891 pip Profit.
TP6 @ 1390.00 touched at 2019.06.20 with 9386 pip Profit.
TP7 @ 1433.50 touched at 2019.06.25 with 13736 pip Profit.
711 + 1441 + 2756 + 5046 + 7891 + 9386 + 13736 = 40967 pip

Open Profit:
Profit for one trade is 1459.95(current price) - 1296.14(open price) = 16381 pip
1 trade(s) still open, therefore total profit for open trade(s) is 16381 x 1 = 16381 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 1422.65 is broken, we will close open trades.
  • Price may also reach 1422.65, 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.

DateDecember 7, 2019 - 19:49
Currentrange bound
Forecastresumption of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 1422.65, resumption of uptrend is expected.
  • We make sure when the resistance at 1555.25 breaks.
  • If the support at 1422.65 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1422.65 is broken.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1484.40 on 12/04/2019, so more losses to support(s) 1445.55, 1433.50 and minimum to Major Support (1422.65) 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 43.

Take Profits:

  1. 1303.25
  2. 1310.55
  3. 1323.70
  4. 1346.60
  5. 1375.05
  6. 1390.00
  7. 1433.50
Click on the level to view price action history.

Symbol Released Current Forecast
Gold (XAUUSD) new Sat, 26 Sep 2020
Gold (XAUUSD) Sat, 19 Sep 2020
Gold (XAUUSD) Sat, 12 Sep 2020
Gold (XAUUSD) Sat, 5 Sep 2020
Gold (XAUUSD) Sat, 29 Aug 2020