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Weekly forecast Gold technical chart
Symbol XAUUSD

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Trade Setup

#GOLD
Total Profit: 53335 point
Closed trade(s): 27868 point Profit
Open trade(s): 25467 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 1813.98(current price) - 1729.09(open price) = 8489 point
3 trade(s) still open, therefore total profit for open trade(s) is 8489 x 3 = 25467 point

#GOLD
Total Profit: 5499 point
Closed trade(s): 11819 point Profit
Open trade(s): -6320 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 1813.98(current price) - 1829.78(open price) = -1580 point
4 trade(s) still open, therefore total profit for open trade(s) is -1580 x 4 = -6320 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.

DateJuly 31, 2021 - 15:55
Currentrange bound
Forecastresumption of uptrend
Last weekBullish

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 trough is formed in daily chart at 1789.55 on 07/23/2021, so more gains to resistance(s) 1828.25, 1848.50, 1875.15 and maximum to Major Resistance (1916.50) 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 52.

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) Sun, 12 Sep 2021
Gold (XAUUSD) Sun, 5 Sep 2021
Gold (XAUUSD) free Sat, 28 Aug 2021
Gold (XAUUSD) Sat, 21 Aug 2021
Gold (XAUUSD) free Sun, 15 Aug 2021