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Weekly forecast Gold technical chart
Symbol XAUUSD

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Trade Setup

#XAUUSD
Total Profit: 8464 point
Closed trade(s): 670 point Profit
Open trade(s): 7794 point Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1233.30 based on 'Valley' entry method at 2018.11.01.

Closed Profit:
TP1 @ 1240.00 touched at 2018.12.04 with 670 point Profit.

Open Profit:
Profit for one trade is 1246.29(current price) - 1233.30(open price) = 1299 point
6 trade(s) still open, therefore total profit for open trade(s) is 1299 x 6 = 7794 point

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateDecember 10, 2018 - 08:58
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 bounced from the support #1 at 38 and it prevented price from more losses.
  • 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 65.

Take Profits:

  1. 1240.00
  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) Sat, 23 Mar 2024
Gold (XAUUSD) Sat, 16 Mar 2024
Gold (XAUUSD) Sat, 9 Mar 2024
Gold (XAUUSD) Sat, 2 Mar 2024
Gold (XAUUSD) Sat, 24 Feb 2024