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Weekly forecast Gold technical chart
Symbol XAUUSD
Trade Setup

#XAUUSD
Total Profit: 49719 point
Closed trade(s): 10099 point Profit
Open trade(s): 39620 point Profit

Trade Setup:
We opened 9 BUY trades @ 1718.21 based on 'Valley' entry method at 2022-07-21.

Closed Profit:
TP1 @ 1752.41 touched at 2022-07-28 with 3420 point Profit.
TP2 @ 1785.00 touched at 2022-08-02 with 6679 point Profit.
3420 + 6679 = 10099 point

Open Profit:
Profit for one BUY trade is 1774.81(current price) - 1718.21(open price) = 5660 point
7 trade(s) still open, therefore total profit for open trade(s) is 5660 x 7 = 39620 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 6, 2022 - 06:00
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1680.80, beginning of uptrend is expected.
  • We make sure when the resistance at 1804.00 breaks.
  • If the support at 1680.80 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1680.80 on 07/21/2022, so more gains to resistance(s) 1785.00 and maximum to Major Resistance (1804.00) 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 55.

Take Profits:

  1. 1752.71
  2. 1785.00
  3. 1832.23
  4. 1878.75
  5. 1926.82
  6. 1959.30
  7. 2000.00
  8. 2074.89
Click on the level to view price action history.

Symbol Released Current Forecast
Gold (XAUUSD) new Sat, 1 Oct 2022
Gold (XAUUSD) Wed, 28 Sep 2022
Gold (XAUUSD) Sun, 25 Sep 2022
Gold (XAUUSD) Sat, 17 Sep 2022
Gold (XAUUSD) Sat, 10 Sep 2022