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Weekly forecast Gold technical chart
Symbol XAUUSD
Trade Setup

#XAUUSD
Total Profit: 125232 point
Closed trade(s): 40385 point Profit
Open trade(s): 84847 point Profit

Trade Setup:
We opened 12 BUY trades @ 1629.47 based on 'Hammer' entry method at 2022-11-03.

Closed Profit:
TP1 @ 1658.96 touched at 2022-11-04 with 2949 point Profit.
TP2 @ 1688.79 touched at 2022-11-08 with 5932 point Profit.
TP3 @ 1708.45 touched at 2022-11-08 with 7898 point Profit.
TP4 @ 1730.00 touched at 2022-11-10 with 10053 point Profit.
TP5 @ 1765.00 touched at 2022-11-11 with 13553 point Profit.
2949 + 5932 + 7898 + 10053 + 13553 = 40385 point

Open Profit:
Profit for one BUY trade is 1750.68(current price) - 1629.47(open price) = 12121 point
7 trade(s) still open, therefore total profit for open trade(s) is 12121 x 7 = 84847 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.
  • If the Midterm level 1674.85 is broken, we will close open trades.
DateNovember 19, 2022 - 12:56
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1674.85, resumption of uptrend is expected.
  • We make sure when the resistance at 1786.50 breaks.
  • If the support at 1674.85 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1674.85 is broken.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 1786.50 on 11/15/2022, so more losses to support(s) 1730.00, 1708.45, 1688.79 and minimum to Major Support (1674.85) 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 62.

Take Profits:

  1. 1658.96
  2. 1688.79
  3. 1708.45
  4. 1730.00
  5. 1765.00
  6. 1807.13
  7. 1850.71
  8. 1878.75
  9. 1914.23
  10. 1980.16
  11. 2074.89
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.