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Weekly forecast Gold technical chart
Symbol XAUUSD

Download MT4 template file

Trade Setup

#XAUUSD
Total Profit: 30219 point
Closed trade(s): 8049 point Profit
Open trade(s): 22170 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.
TP3 @ 1294.60 touched at 2018.05.15 with 4143 point Profit.
1188 + 2718 + 4143 = 8049 point

Open Profit:
Profit for one trade is 1336.03(open price) - 1299.08(current price) = 3695 point
6 trade(s) still open, therefore total profit for open trade(s) is 3695 x 6 = 22170 point

DateSun, 06/10/2018 - 19:44
Currentdowntrend
Forecastcontinuation of downtrend
Last weekBullish

Midterm forecast:

  • 1308.85 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 1308.85 is broken.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of continuation 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 46.

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, the description can also be found below the image.
  • If the Midterm level 1308.85 is broken, we will close these trades.
  • Price may also reach 1308.85, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.

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) free Sat, 16 Jun 2018
Gold (XAUUSD) free Sun, 10 Jun 2018
Gold (XAUUSD) free Sun, 3 Jun 2018
Gold (XAUUSD) free Mon, 28 May 2018
Gold (XAUUSD) free Sun, 20 May 2018