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Weekly forecast Gold technical chart
Symbol XAUUSD

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Trade Setup
#XAUUSD
Total Profit: 84524 point
Closed trade(s): 84524 point Profit
Open trade(s): 0 point 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 point Profit.
TP2 @ 1310.55 touched at 2019.06.03 with 1441 point Profit.
TP3 @ 1323.70 touched at 2019.06.03 with 2756 point Profit.
TP4 @ 1346.60 touched at 2019.06.07 with 5046 point Profit.
TP5 @ 1375.05 touched at 2019.06.20 with 7891 point Profit.
TP6 @ 1390.00 touched at 2019.06.20 with 9386 point Profit.
TP7 @ 1433.50 touched at 2019.06.25 with 13736 point Profit.
711 + 1441 + 2756 + 5046 + 7891 + 9386 + 13736 = 40967 point

Closed Profit:
Profit for one trade is 1731.71(current price) - 1296.14(open price) = 43557 point
1 trade(s) closed at market price as trend direction is changed, therefore total profit will increase by 43557 x 1 = 43557 point
#XAUUSD
Total Profit: -312 point
Closed trade(s): 0 point Profit
Open trade(s): -312 point Profit

Trade Setup:
We opened 6 SELL trade(s) @ 1732.00 based on 'Shooting star' entry method at 2020.05.18.

Open Profit:
Profit for one trade is 1732.00(open price) - 1732.52(current price) = -52 point
6 trade(s) still open, therefore total profit for open trade(s) is -52 x 6 = -312 point

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateMay 18, 2020 - 20:19
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1795.75, beginning of downtrend is expected.
  • We make sure when the support at 1660.25 breaks.
  • If the resistance at 1795.75 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1669.10 on 05/01/2020, so more gains to resistance(s) 1747.50, 1765.05 and maximum to Major Resistance (1795.75) 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 60.

Take Profits:

  1. 1703.35
  2. 1660.25
  3. 1611.25
  4. 1549.15
  5. 1515.95
Click on the level to view price action history.
Symbol Released Current Forecast
Gold (XAUUSD) Sun, 14 Apr 2024
Gold (XAUUSD) Sat, 6 Apr 2024
Gold (XAUUSD) Sat, 30 Mar 2024
Gold (XAUUSD) Sat, 23 Mar 2024
Gold (XAUUSD) Sat, 16 Mar 2024
History
Daily-Trading-Opportunities on XAUUSD.