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Weekly forecast Gold technical chart
Symbol XAUUSD
Trade Setup

#XAUUSD
Total Profit: 204344 point
Closed trade(s): 133679 point Profit
Open trade(s): 70665 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 1865.02(current price) - 1629.47(open price) = 23555 point
3 trade(s) still open, therefore total profit for open trade(s) is 23555 x 3 = 70665 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 1730.00 is broken, we will close open trades.

DateFebruary 4, 2023 - 11:53
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1730.00, resumption of uptrend is expected.
  • We make sure when the resistance at 2000.00 breaks.
  • If the support at 1730.00 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1730.00 is broken.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of resumption of uptrend is decreased.
  • A peak is formed in daily chart at 1960.00 on 02/02/2023, so more losses to support(s) 1848.54, 1833.92, 1808.84 and minimum to Major Support (1730.00) 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 44.

Take Profits:

  1. 1658.96
  2. 1688.79
  3. 1710.22
  4. 1730.00
  5. 1765.00
  6. 1808.84
  7. 1848.54
  8. 1876.55
  9. 1914.23
  10. 1980.16
  11. 2067.21
Click on the level to view price action history.

Symbol Released Current Forecast
Gold (XAUUSD) Sat, 23 Mar 2024
Gold (XAUUSD) Sat, 16 Mar 2024
Gold (XAUUSD) Sat, 9 Mar 2024
Gold (XAUUSD) Sat, 2 Mar 2024
Gold (XAUUSD) Sat, 24 Feb 2024