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Weekly forecast Gold technical chart
Symbol XAUUSD

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Trade Setup

#XAUUSD
Total Profit: 77940 point
Closed trade(s): 38058 point Profit
Open trade(s): 39882 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) - 1203.09(current price) = 13294 point
3 trade(s) still open, therefore total profit for open trade(s) is 13294 x 3 = 39882 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, 10/06/2018 - 20:24
Currentrange bound
Forecastresumption of downtrend
Last weekBullish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1214.25 would begin in Midterm.
  • We will close our open trades, if the Midterm level 1214.25 is broken.

Technical analysis:

  • The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see another leg lower if price breaks and closes below the uptrend line of the triangle.
  • While the RSI resistance #1 at 53 is not broken, the probability of price increase would be too low.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 53.

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 Sun, 10 Feb 2019
Gold (XAUUSD) Sat, 2 Feb 2019
Gold (XAUUSD) free Sat, 26 Jan 2019
Gold (XAUUSD) Sat, 19 Jan 2019
Gold (XAUUSD) free Sat, 12 Jan 2019