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Weekly forecast Gold technical chart
Symbol XAUUSD

Download MT4 template file

Trade Setup

#XAUUSD
Total Profit: 2576 point
Closed trade(s): 2576 point Profit
Open trade(s): 0 point Profit
_______________________________________________
Trade Setup:
We opened 9 SELL trade(s) @ 1329.38 based on 'Peak' entry method at 2018.02.20.

Closed Profit:
TP1 @ 1324.15 touched at 2018.02.21 with 523 point Profit.
TP2 @ 1308.85 touched at 2018.03.01 with 2053 point Profit.
523 + 2053 = 2576 point

All 7 trades closed at entry price, therefore no profit no loss.
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1356.75 to 1375.05). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (1356.75)
    • Resistance on 02/16/2018
    • Resistance on 02/15/2018
    • Resistance on 02/14/2018
    • Resistance on 01/26/2018
    • Resistance on 09/08/2017
    • Resistance on 08/18/2016
    • Resistance on 08/16/2016
    • Resistance on 08/12/2016
    • Resistance on 08/10/2016
    • Resistance on 08/01/2016
    • Resistance on 07/29/2016
    • Resistance on 07/12/2016
    • Resistance on 07/05/2016
    • Resistance on 07/04/2016
    • Resistance on 06/24/2016
  • Ending of entry zone (1375.05)
    • Resistance on 07/11/2016
    • Resistance on 07/06/2016

DateSun, 03/11/2018 - 20:52
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 1375.05, beginning of downtrend is expected.
  • We make sure when the support at 1294.60 breaks.
  • If the resistance at 1375.05 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 48.

Take Profits:

  1. 1324.15
  2. 1308.85
  3. 1294.60
  4. 1262.50
  5. 1240.70
  6. 1204.80
  7. 1131.60
  8. 1046.15
Click on the level to view price action history.

Symbol Released Current Forecast
Gold (XAUUSD) new Mon, 10 Dec 2018
Gold (XAUUSD) Sun, 2 Dec 2018
Gold (XAUUSD) Sat, 24 Nov 2018
Gold (XAUUSD) Tue, 20 Nov 2018
Gold (XAUUSD) Sun, 11 Nov 2018