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Weekly forecast Gold technical chart
Symbol XAUUSD

Download MT4 template file

Trade Setup
#XAUUSD
Total Profit: 30436 pip
Closed trade(s): 8960 pip Profit
Open trade(s): 21476 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 1286.99(current price) - 1233.30(open price) = 5369 pip
4 trade(s) still open, therefore total profit for open trade(s) is 5369 x 4 = 21476 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.

DateSat, 01/12/2019 - 16:10
Currentuptrend
Forecastcontinuation of uptrend
Last weekBullish

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:

  • The RSI uptrend #1 is broken, so the probability of continuation of uptrend is decreased.
  • The RSI bounced from the resistance #2 at 77 and it prevented price from more gains.
  • While the RSI uptrend #3 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 1232.87 on 12/14/2018, so more gains to resistance(s) 1287.00, 1308.85, 1324.15 and more heights is expected.
  • 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) new Sat, 19 Jan 2019
Gold (XAUUSD) free Sat, 12 Jan 2019
Gold (XAUUSD) Sun, 6 Jan 2019
Gold (XAUUSD) free Sun, 30 Dec 2018
Gold (XAUUSD) Sun, 23 Dec 2018