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Weekly forecast Gold technical chart
Symbol XAUUSD
Trade Setup

#XAUUSD
Total Profit: 220925 point
Closed trade(s): 133679 point Profit
Open trade(s): 87246 point Profit

Trade Setup:
We opened 12 BUY trades @ 1629.47 based on 'Hammer' entry method at 2022-11-03.

Closed Profit:
TP1 @ 1658.96 touched at 2022-11-04 with 2949 point Profit.
TP2 @ 1688.79 touched at 2022-11-08 with 5932 point Profit.
TP3 @ 1708.45 touched at 2022-11-08 with 7898 point Profit.
TP4 @ 1730.00 touched at 2022-11-10 with 10053 point Profit.
TP5 @ 1765.00 touched at 2022-11-11 with 13553 point Profit.
TP6 @ 1807.13 touched at 2022-12-05 with 17766 point Profit.
TP7 @ 1850.71 touched at 2023-01-04 with 22124 point Profit.
TP8 @ 1878.75 touched at 2023-01-09 with 24928 point Profit.
TP9 @ 1914.23 touched at 2023-01-13 with 28476 point Profit.
2949 + 5932 + 7898 + 10053 + 13553 + 17766 + 22124 + 24928 + 28476 = 133679 point

Open Profit:
Profit for one BUY trade is 1920.29(current price) - 1629.47(open price) = 29082 point
3 trade(s) still open, therefore total profit for open trade(s) is 29082 x 3 = 87246 point

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1621.36 to 1600.00). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1621.36)
  • Ending of entry zone (1600.00)
DateJanuary 14, 2023 - 13:33
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 1850.71, continuation of uptrend is expected.
  • We make sure when the resistance at 2000.00 breaks.
  • If the support at 1850.71 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 1784.70 on 12/22/2022, so more gains to resistance(s) 1980.16 and maximum to Major Resistance (2000.00) 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 74.

Take Profits:

  1. 1658.96
  2. 1688.79
  3. 1708.45
  4. 1765.00
  5. 1808.84
  6. 1850.71
  7. 1878.75
  8. 1914.23
  9. 1980.16
  10. 2067.21
Click on the level to view price action history.
Symbol Released Current Forecast
Gold (XAUUSD) Sun, 14 Apr 2024
Gold (XAUUSD) Sat, 6 Apr 2024
Gold (XAUUSD) Sat, 30 Mar 2024
Gold (XAUUSD) Sat, 23 Mar 2024
Gold (XAUUSD) Sat, 16 Mar 2024
History
Daily-Trading-Opportunities on XAUUSD.