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Weekly forecast Gold technical chart
Symbol XAUUSD

Download MT4 template file

Trade Setup

#XAUUSD
Total Profit: 15897 point
Closed trade(s): 3906 point Profit
Open trade(s): 11991 point Profit

Trade Setup:
We opened 9 SELL trade(s) @ 1336.03 based on 'Peak' entry method at 2018.04.20.

Closed Profit:
TP1 @ 1324.15 touched at 2018.04.23 with 1188 point Profit.
TP2 @ 1308.85 touched at 2018.05.01 with 2718 point Profit.
1188 + 2718 = 3906 point

Open Profit:
Profit for one trade is 1336.03(open price) - 1318.90(current price) = 1713 point
7 trade(s) still open, therefore total profit for open trade(s) is 1713 x 7 = 11991 point

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateMon, 05/14/2018 - 11:58
Currentrange bound
Forecastbeginning of downtrend
Last weekBullish

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:

  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 47.

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 free Sun, 12 Aug 2018
Gold (XAUUSD) free Tue, 7 Aug 2018
Gold (XAUUSD) Mon, 6 Aug 2018
Gold (XAUUSD) Sat, 28 Jul 2018
Gold (XAUUSD) free Sat, 21 Jul 2018