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Weekly forecast Gold technical chart
Symbol XAUUSD

Download MT4 template file

Trade Setup

#XAUUSD
Total Profit: 61686 point
Closed trade(s): 61686 point Profit
Open trade(s): 0 point Profit

Trade Setup:
We opened 8 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 @ 1287.00 touched at 2018.05.16 with 4903 point Profit.
TP4 @ 1262.50 touched at 2018.06.21 with 7353 point Profit.
TP5 @ 1236.50 touched at 2018.07.13 with 9953 point Profit.
1188 + 2718 + 4903 + 7353 + 9953 = 26115 point

Closed Profit:
Profit for one trade is 1336.03(open price) - 1217.46(current price) = 11857 point
3 trade(s) closed at market price as trend direction is changed, therefore total profit will increase by 11857 x 3 = 35571 point

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1214.25 to 1204.80). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1214.25)
    • Resistance on 07/10/2017
    • Support on 07/14/2017
    • Support on 07/19/2018
    • Support on 07/31/2018
    • Resistance on 08/03/2018
    • Resistance on 08/06/2018
    • Resistance on 08/07/2018
    • Resistance on 08/08/2018
    • Resistance on 08/09/2018
    • Resistance on 08/10/2018
    • Resistance on 08/13/2018
    • Resistance on 08/28/2018
  • Ending of entry zone (1204.80)
    • Support on 02/22/2016
    • Support on 02/23/2016
    • Support on 05/30/2016
    • Support on 05/31/2016
    • Support on 06/01/2016
    • Support on 11/18/2016
    • Support on 11/21/2016
    • Support on 11/22/2016
    • Resistance on 01/12/2017
    • Resistance on 01/16/2017
    • Resistance on 01/19/2017
    • Support on 01/24/2017
    • Support on 07/10/2017
    • Support on 08/03/2018
    • Support on 08/10/2018
    • Resistance on 08/31/2018
    • Resistance on 09/03/2018
    • Resistance on 09/06/2018
    • Resistance on 09/14/2018
    • Resistance on 09/17/2018
    • Resistance on 09/19/2018
    • Resistance on 09/24/2018
    • Resistance on 10/02/2018
    • Resistance on 10/03/2018
    • Resistance on 10/04/2018
    • Resistance on 10/05/2018
    • Resistance on 10/08/2018
DateOctober 13, 2018 - 18:36
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1183.15 would begin in Midterm.

Technical analysis:

  • The RSI resistance #1 at 53 is broken, so the probability of beginning of uptrend is increased.
  • While the RSI uptrend #2 is not broken, bullish wave in price would continue.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 59.

Take Profits:

  1. 1236.50
  2. 1262.50
  3. 1287.00
  4. 1308.85
  5. 1324.15
  6. 1366.05
Click on the level to view price action history.
Symbol Released Current Forecast
Gold (XAUUSD) Sun, 14 Apr 2024
Gold (XAUUSD) Sat, 6 Apr 2024
Gold (XAUUSD) Sat, 30 Mar 2024
Gold (XAUUSD) Sat, 23 Mar 2024
Gold (XAUUSD) Sat, 16 Mar 2024
History
Daily-Trading-Opportunities on XAUUSD.