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Weekly forecast Gold technical chart
Symbol XAUUSD

Download MT4 template file

Trade Setup

#GOLD
Total Profit: 76420 point
Closed trade(s): 27868 point Profit
Open trade(s): 48552 point Profit

Trade Setup:
We opened 6 BUY trade(s) @ 1729.09 based on 'Valley' entry method at 2021.04.01.

Closed Profit:
TP1 @ 1762.55 touched at 2021.04.15 with 3346 point Profit.
TP2 @ 1828.25 touched at 2021.05.07 with 9916 point Profit.
TP3 @ 1875.15 touched at 2021.05.19 with 14606 point Profit.
3346 + 9916 + 14606 = 27868 point

Open Profit:
Profit for one trade is 1890.93(current price) - 1729.09(open price) = 16184 point
3 trade(s) still open, therefore total profit for open trade(s) is 16184 x 3 = 48552 point

#GOLD
Total Profit: 36279 point
Closed trade(s): 11819 point Profit
Open trade(s): 24460 point Profit

Trade Setup:
We opened 6 BUY trade(s) @ 1829.78 based on 'Valley' entry method at 2021.02.08.

Closed Profit:
TP1 @ 1875.15 touched at 2021.05.19 with 4537 point Profit.
TP2 @ 1902.60 touched at 2021.05.26 with 7282 point Profit.
4537 + 7282 = 11819 point

Open Profit:
Profit for one trade is 1890.93(current price) - 1829.78(open price) = 6115 point
4 trade(s) still open, therefore total profit for open trade(s) is 6115 x 4 = 24460 point

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 1762.55 is broken, we will close open trades.

DateJune 5, 2021 - 20:10
Currentuptrend
Forecastcontinuation of uptrend
Last weekBearish

Midterm forecast:

  • 1762.55 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 1762.55 is broken.

Technical analysis:

  • A peak is formed in daily chart at 1916.50 on 06/01/2021, so more losses to support(s) 1875.15, 1848.50, 1828.25 and minimum to Major Support (1762.55) 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 61.

Take Profits:

  1. 1762.55
  2. 1828.25
  3. 1875.15
  4. 1959.30
  5. 2075.05
Click on the level to view price action history.

Symbol Released Current Forecast
Gold (XAUUSD) new Sun, 20 Jun 2021
Gold (XAUUSD) free Sat, 12 Jun 2021
Gold (XAUUSD) Sat, 5 Jun 2021
Gold (XAUUSD) free Sat, 29 May 2021
Gold (XAUUSD) free Sat, 22 May 2021