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Weekly forecast Gold technical chart
Symbol XAUUSD

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Trade Setup

#GOLD
Total Profit: 38389 point
Closed trade(s): 27868 point Profit
Open trade(s): 10521 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 1764.16(current price) - 1729.09(open price) = 3507 point
3 trade(s) still open, therefore total profit for open trade(s) is 3507 x 3 = 10521 point

#GOLD
Total Profit: -14429 point
Closed trade(s): 11819 point Profit
Open trade(s): -26248 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 1764.16(current price) - 1829.78(open price) = -6562 point
4 trade(s) still open, therefore total profit for open trade(s) is -6562 x 4 = -26248 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 1744.50 is broken, we will close open trades.

DateJune 20, 2021 - 14:41
Currentrange bound
Forecastresumption of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 1744.50, resumption of uptrend is expected.
  • We make sure when the resistance at 1916.50 breaks.
  • If the support at 1744.50 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1744.50 is broken.

Technical analysis:

  • A peak is formed in daily chart at 1916.50 on 06/01/2021, so more losses to support(s) 1762.55 and minimum to Major Support (1744.50) 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 27.

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) Sat, 31 Jul 2021
Gold (XAUUSD) Sat, 24 Jul 2021
Gold (XAUUSD) Sun, 18 Jul 2021
Gold (XAUUSD) Sat, 10 Jul 2021
Gold (XAUUSD) Sun, 4 Jul 2021