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Weekly forecast Gold technical chart
Symbol XAUUSD

Download MT4 template file

Trade Setup

#XAUUSD
Total Profit: 57379 point
Closed trade(s): 24935 point Profit
Open trade(s): 32444 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.
TP4 @ 1262.50 touched at 2018.06.21 with 7353 point Profit.
TP5 @ 1240.70 touched at 2018.07.02 with 9533 point Profit.
1188 + 2718 + 4143 + 7353 + 9533 = 24935 point

Open Profit:
Profit for one trade is 1336.03(open price) - 1254.92(current price) = 8111 point
4 trade(s) still open, therefore total profit for open trade(s) is 8111 x 4 = 32444 point

DateMon, 07/09/2018 - 13:19
Currentdowntrend
Forecastcontinuation of downtrend
Last weekBullish

Midterm forecast:

  • 1284.00 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 1284.00 is broken.

Technical analysis:

  • The RSI bounced from the support #1 at 21 and it prevented price from more losses.
  • 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 37.

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 1284.00 is broken, we will close these trades.
  • Price may also reach 1284.00, 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, 14 Jul 2018
Gold (XAUUSD) free Mon, 9 Jul 2018
Gold (XAUUSD) Sun, 1 Jul 2018
Gold (XAUUSD) free Mon, 25 Jun 2018
Gold (XAUUSD) free Sat, 16 Jun 2018