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Weekly forecast Gold technical chart
Symbol XAUUSD

Download MT4 template file

Trade Setup
#XAUUSD
Total Profit: 53049 pip
Closed trade(s): 53049 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 1233.30 based on 'Valley' entry method at 2018.11.01.

Closed Profit:
TP1 @ 1250.95 touched at 2018.12.19 with 1765 pip Profit.
TP2 @ 1262.50 touched at 2018.12.20 with 2920 pip Profit.
TP3 @ 1275.65 touched at 2018.12.26 with 4235 pip Profit.
TP4 @ 1287.00 touched at 2019.01.02 with 5370 pip Profit.
TP5 @ 1302.25 touched at 2019.01.25 with 6895 pip Profit.
TP6 @ 1324.15 touched at 2019.01.31 with 9085 pip Profit.
TP7 @ 1341.55 touched at 2019.02.19 with 10825 pip Profit.
1765 + 2920 + 4235 + 5370 + 6895 + 9085 + 10825 = 41095 pip

Closed Profit:
Profit for one trade is 1293.07(current price) - 1233.30(open price) = 5977 pip
2 trade(s) closed at market price as the major support is broken, therefore total profit will increase by 5977 x 2 = 11954 pip

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1240.00 to 1231.15). 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 (1240.00)
    • Support on 10/07/2016
    • Resistance on 02/16/2017
    • Resistance on 02/17/2017
    • Resistance on 02/20/2017
    • Resistance on 02/21/2017
    • Resistance on 02/22/2017
    • Support on 03/01/2017
    • Support on 03/31/2017
    • Resistance on 05/04/2017
    • Resistance on 05/16/2017
    • Support on 06/20/2017
    • Support on 06/21/2017
    • Support on 06/26/2017
    • Support on 06/27/2017
    • Support on 06/29/2017
    • Support on 06/30/2017
    • Support on 12/11/2017
    • Support on 12/12/2017
    • Support on 12/13/2017
    • Support on 07/02/2018
    • Support on 07/03/2018
    • Support on 07/12/2018
    • Support on 07/13/2018
    • Support on 07/16/2018
    • Resistance on 10/23/2018
    • Resistance on 10/25/2018
    • Resistance on 10/26/2018
    • Resistance on 12/04/2018
    • Resistance on 12/05/2018
    • Resistance on 12/06/2018
    • Support on 12/11/2018
    • Support on 12/13/2018
  • Ending of entry zone (1231.15)
    • Resistance on 11/14/2016
    • Resistance on 11/15/2016
    • Resistance on 11/16/2016
    • Resistance on 11/17/2016
    • Support on 02/08/2017
    • Support on 02/16/2017
    • Support on 02/20/2017
    • Support on 02/21/2017
    • Support on 02/22/2017
    • Support on 03/02/2017
    • Support on 03/03/2017
    • Resistance on 03/16/2017
    • Resistance on 03/17/2017
    • Support on 03/21/2017
    • Resistance on 05/12/2017
    • Resistance on 05/15/2017
    • Resistance on 07/14/2017
    • Resistance on 07/23/2018
    • Resistance on 10/15/2018
    • Resistance on 10/16/2018
    • Resistance on 10/18/2018
    • Resistance on 10/19/2018
    • Resistance on 10/23/2018
    • Resistance on 10/30/2018
    • Resistance on 11/06/2018
    • Resistance on 11/07/2018
    • Resistance on 11/21/2018
    • Resistance on 12/03/2018

DateMarch 2, 2019 - 20:59
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 beginning of uptrend.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of beginning of uptrend is decreased.
  • While the RSI support #2 at 38 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 1346.65 on 02/20/2019, so more losses to support(s) 1287.00, 1275.65, 1262.50 and minimum to Trend Hunter Buy Zone (1240.00 to 1231.15) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 40.

Take Profits:

  1. 1250.95
  2. 1262.50
  3. 1275.65
  4. 1287.00
  5. 1302.25
  6. 1324.15
  7. 1341.55
  8. 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