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Weekly forecast Gold technical chart
Symbol XAUUSD

Download MT4 template file

Trade Setup
#XAUUSD
Total Profit: 29360 pip
Closed trade(s): 8960 pip Profit
Open trade(s): 20400 pip 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 pip Profit.
TP2 @ 1262.50 touched at 2018.12.20 with 2920 pip Profit.
TP3 @ 1287.00 touched at 2019.01.02 with 5370 pip Profit.
670 + 2920 + 5370 = 8960 pip

Open Profit:
Profit for one trade is 1284.30(current price) - 1233.30(open price) = 5100 pip
4 trade(s) still open, therefore total profit for open trade(s) is 5100 x 4 = 20400 pip

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.
  • If the Midterm level 1240.00 is broken, we will close open trades.

DateJanuary 6, 2019 - 00:12
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 1240.00 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 1240.00 is broken.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • The RSI bounced from the resistance #2 at 77 and it prevented price from more gains.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 68.

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) new Sat, 16 Mar 2024
Gold (XAUUSD) Sat, 9 Mar 2024
Gold (XAUUSD) Sat, 2 Mar 2024
Gold (XAUUSD) Sat, 24 Feb 2024
Gold (XAUUSD) free Sat, 17 Feb 2024