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Weekly forecast Gold technical chart
Symbol XAUUSD

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Trade Setup

#GOLD
Total Profit: 19731 point
Closed trade(s): 4936 point Profit
Open trade(s): 14795 point Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1751.37 based on 'Valley' entry method at 2021.08.11.

Closed Profit:
TP1 @ 1762.55 touched at 2021.08.13 with 1118 point Profit.
TP2 @ 1789.55 touched at 2021.08.17 with 3818 point Profit.
1118 + 3818 = 4936 point

Open Profit:
Profit for one trade is 1780.96(current price) - 1751.37(open price) = 2959 point
5 trade(s) still open, therefore total profit for open trade(s) is 2959 x 5 = 14795 point

#GOLD
Total Profit: -7709 point
Closed trade(s): 11819 point Profit
Open trade(s): -19528 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 1780.96(current price) - 1829.78(open price) = -4882 point
4 trade(s) still open, therefore total profit for open trade(s) is -4882 x 4 = -19528 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.

DateAugust 21, 2021 - 08:19
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1676.70, resumption of uptrend is expected.
  • We make sure when the resistance at 1916.50 breaks.
  • If the support at 1676.70 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1684.50 on 08/09/2021, so more gains to resistance(s) 1789.55, 1828.25, 1848.50 and maximum to Major Resistance (1916.50) 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 47.

Take Profits:

  1. 1762.55
  2. 1789.55
  3. 1828.25
  4. 1875.15
  5. 1916.50
  6. 2075.05
Click on the level to view price action history.

Symbol Released Current Forecast
Gold (XAUUSD) Sat, 23 Mar 2024
Gold (XAUUSD) Sat, 16 Mar 2024
Gold (XAUUSD) Sat, 9 Mar 2024
Gold (XAUUSD) Sat, 2 Mar 2024
Gold (XAUUSD) Sat, 24 Feb 2024