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Weekly forecast Gold technical chart
Symbol XAUUSD

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Trade Setup
#XAUUSD
Total Profit: 68371 pip
Closed trade(s): 40967 pip Profit
Open trade(s): 27404 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 1570.18(current price) - 1296.14(open price) = 27404 pip
1 trade(s) still open, therefore total profit for open trade(s) is 27404 x 1 = 27404 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 1535.70 is broken, we will close open trades.

DateFebruary 8, 2020 - 18:40
Currentuptrend
Forecastcontinuation of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 1535.70, continuation of uptrend is expected.
  • We make sure when the resistance at 1611.25 breaks.
  • If the support at 1535.70 is broken, the short-term forecast -continuation of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1535.70 is broken.

Technical analysis:

  • The RSI support #1 at 59 is broken, so the probability of continuation of uptrend is decreased.
  • A trough is formed in daily chart at 1547.55 on 02/05/2020, so more gains to resistance(s) 1593.10 and maximum to Major Resistance (1611.25) 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 57.

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) Sat, 1 Aug 2020
Gold (XAUUSD) Sat, 25 Jul 2020
Gold (XAUUSD) Sat, 18 Jul 2020
Gold (XAUUSD) Sat, 11 Jul 2020
Gold (XAUUSD) Sat, 4 Jul 2020