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Weekly forecast Gold technical chart
Symbol XAUUSD

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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

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.
  • If the Midterm level 1284.00 is broken, we will close open 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.

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.

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 Sat, 15 Dec 2018
Gold (XAUUSD) Mon, 10 Dec 2018
Gold (XAUUSD) Sun, 2 Dec 2018
Gold (XAUUSD) Sat, 24 Nov 2018
Gold (XAUUSD) Tue, 20 Nov 2018