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Weekly forecast Gold technical chart
Symbol XAUUSD
Trade Setup

#XAUUSD
Total Profit: 97371 point
Closed trade(s): 83219 point Profit
Open trade(s): 14152 point Profit

Trade Setup:
We opened 8 BUY trades @ 1756.65 based on 'Valley' entry method at 2021-09-30.

Closed Profit:
TP1 @ 1789.55 touched at 2021-10-13 with 3290 point Profit.
TP2 @ 1831.86 touched at 2021-11-09 with 7521 point Profit.
TP3 @ 1874.88 touched at 2021-11-16 with 11823 point Profit.
TP4 @ 1916.50 touched at 2022-02-24 with 15985 point Profit.
TP5 @ 1959.30 touched at 2022-02-24 with 20265 point Profit.
TP6 @ 2000.00 touched at 2022-03-07 with 24335 point Profit.
3290 + 7521 + 11823 + 15985 + 20265 + 24335 = 83219 point

Open Profit:
Profit for one BUY trade is 1827.41(current price) - 1756.65(open price) = 7076 point
2 trade(s) still open, therefore total profit for open trade(s) is 7076 x 2 = 14152 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 1785.00 is broken, we will close open trades.

DateJune 25, 2022 - 11:38
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1785.00, resumption of uptrend is expected.
  • We make sure when the resistance at 1916.50 breaks.
  • If the support at 1785.00 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1785.00 is broken.

Technical analysis:

  • While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
  • While the RSI support #2 at 38 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 1805.00 on 06/14/2022, so more gains to resistance(s) 1835.02, 1853.78, 1874.33 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 45.

Take Profits:

  1. 1785.00
  2. 1835.02
  3. 1874.33
  4. 1916.50
  5. 1959.30
  6. 2000.00
  7. 2075.00
Click on the level to view price action history.

Symbol Released Current Forecast
Gold (XAUUSD) new free Fri, 12 Aug 2022
Gold (XAUUSD) Sat, 6 Aug 2022
Gold (XAUUSD) free Sat, 30 Jul 2022
Gold (XAUUSD) Sat, 23 Jul 2022
Gold (XAUUSD) Sat, 16 Jul 2022