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Weekly forecast Gold technical chart
Symbol XAUUSD
Trade Setup

#GOLD
Total Profit: 90874 point
Closed trade(s): 45630 point Profit
Open trade(s): 45244 point Profit

Trade Setup:
We opened 9 BUY trade(s) @ 1732.50 based on 'Valley' entry method at 2021.09.14.

Closed Profit:
TP1 @ 1790.08 touched at 2021.09.15 with 5758 point Profit.
TP2 @ 1804.23 touched at 2021.09.15 with 7173 point Profit.
TP3 @ 1814.96 touched at 2021.11.05 with 8246 point Profit.
TP4 @ 1834.65 touched at 2021.11.10 with 10215 point Profit.
TP5 @ 1874.88 touched at 2021.11.16 with 14238 point Profit.
5758 + 7173 + 8246 + 10215 + 14238 = 45630 point

Open Profit:
Profit for one trade is 1845.61(current price) - 1732.50(open price) = 11311 point
4 trade(s) still open, therefore total profit for open trade(s) is 11311 x 4 = 45244 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 1804.23 is broken, we will close open trades.

DateNovember 20, 2021 - 15:47
Currentuptrend
Forecastcontinuation of uptrend
Last weekBearish

Midterm forecast:

  • 1804.23 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 1804.23 is broken.

Technical analysis:

  • The RSI resistance #1 at 62 is broken, so the probability of continuation of uptrend is increased.
  • While the RSI uptrend #2 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 1877.05 on 11/16/2021, so more losses to support(s) 1834.65, 1814.96 and minimum to Major Support (1804.23) 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 59.

Take Profits:

  1. 1790.08
  2. 1804.23
  3. 1814.96
  4. 1834.65
  5. 1874.88
  6. 1959.30
  7. 2000.00
  8. 2075.05
Click on the level to view price action history.

Symbol Released Current Forecast
Gold (XAUUSD) new Sat, 4 Dec 2021
Gold (XAUUSD) Sat, 27 Nov 2021
Gold (XAUUSD) free Sat, 20 Nov 2021
Gold (XAUUSD) free Sat, 13 Nov 2021
Gold (XAUUSD) free Sun, 7 Nov 2021