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Weekly forecast Gold technical chart
Symbol XAUUSD
Trade Setup

#GOLD
Total Profit: 103015 point
Closed trade(s): 77701 point Profit
Open trade(s): 25314 point Profit

Trade Setup:
We opened 9 BUY trade(s) @ 1756.65 based on 'Valley' entry method at 2021.09.30.

Closed Profit:
TP1 @ 1790.08 touched at 2021.10.13 with 3343 point Profit.
TP2 @ 1804.23 touched at 2021.10.22 with 4758 point Profit.
TP3 @ 1814.96 touched at 2021.11.05 with 5831 point Profit.
TP4 @ 1831.00 touched at 2021.11.09 with 7435 point Profit.
TP5 @ 1875.00 touched at 2021.11.16 with 11835 point Profit.
TP6 @ 1958.29 touched at 2022.02.24 with 20164 point Profit.
TP7 @ 2000.00 touched at 2022.03.07 with 24335 point Profit.
3343 + 4758 + 5831 + 7435 + 11835 + 20164 + 24335 = 77701 point

Open Profit:
Profit for one trade is 1883.22(current price) - 1756.65(open price) = 12657 point
2 trade(s) still open, therefore total profit for open trade(s) is 12657 x 2 = 25314 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 1850.00 is broken, we will close open trades.

DateMay 7, 2022 - 11:06
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1850.00, resumption of uptrend is expected.
  • We make sure when the resistance at 2075.00 breaks.
  • If the support at 1850.00 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1850.00 is broken.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of resumption of uptrend is decreased.
  • While the RSI resistance #2 at 62 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 1998.30 on 04/18/2022, so more losses to support(s) 1875.00 and minimum to Major Support (1850.00) 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 41.

Take Profits:

  1. 1790.08
  2. 1804.23
  3. 1814.96
  4. 1831.00
  5. 1875.00
  6. 1958.29
  7. 2000.00
  8. 2075.00
Click on the level to view price action history.

Symbol Released Current Forecast
Gold (XAUUSD) new Sat, 14 May 2022
Gold (XAUUSD) free Sat, 7 May 2022
Gold (XAUUSD) Sat, 30 Apr 2022
Gold (XAUUSD) Sat, 23 Apr 2022
Gold (XAUUSD) Sun, 17 Apr 2022