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Weekly forecast Gold technical chart
Symbol XAUUSD

Download MT4 template file

Trade Setup

#XAUUSD
Total Profit: 79980 point
Closed trade(s): 38058 point Profit
Open trade(s): 41922 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.
TP6 @ 1204.80 touched at 2018.08.03 with 13123 point Profit.
1188 + 2718 + 4143 + 7353 + 9533 + 13123 = 38058 point

Open Profit:
Profit for one trade is 1336.03(open price) - 1196.29(current price) = 13974 point
3 trade(s) still open, therefore total profit for open trade(s) is 13974 x 3 = 41922 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 1214.25 is broken, we will close open trades.

DateSat, 09/08/2018 - 20:42
Currentdowntrend
Forecastcontinuation of downtrend
Last weekBearish

Midterm forecast:

  • 1214.25 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 1214.25 is broken.

Technical analysis:

  • While the RSI resistance #1 at 51 is not broken, the probability of price increase would be too low.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 45.

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, 22 Sep 2018
Gold (XAUUSD) free Sun, 16 Sep 2018
Gold (XAUUSD) free Sat, 8 Sep 2018
Gold (XAUUSD) free Sun, 2 Sep 2018
Gold (XAUUSD) free Sun, 26 Aug 2018