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Weekly forecast Gold technical chart
Symbol XAUUSD
Trade Setup

#GOLD
Total Profit: 87737 point
Closed trade(s): 76693 point Profit
Open trade(s): 11044 point Profit

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

Closed Profit:
TP1 @ 1780.00 touched at 2021.10.08 with 2335 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.
2335 + 4758 + 5831 + 7435 + 11835 + 20164 + 24335 = 76693 point

Open Profit:
Profit for one trade is 1811.87(current price) - 1756.65(open price) = 5522 point
2 trade(s) still open, therefore total profit for open trade(s) is 5522 x 2 = 11044 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 1780.00 is broken, we will close open trades.

DateMay 14, 2022 - 12:01
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1780.00, resumption of uptrend is expected.
  • We make sure when the resistance at 1916.16 breaks.
  • If the support at 1780.00 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1780.00 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) 1804.23 and minimum to Major Support (1780.00) 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 30.

Take Profits:

  1. 1780.00
  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) free Sat, 25 Jun 2022
Gold (XAUUSD) Sat, 18 Jun 2022
Gold (XAUUSD) Sat, 11 Jun 2022
Gold (XAUUSD) Sat, 4 Jun 2022
Gold (XAUUSD) Fri, 27 May 2022