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Weekly forecast Gold technical chart
Symbol XAUUSD

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Trade Setup

#XAUUSD
Total Profit: 70913 point
Closed trade(s): 27767 point Profit
Open trade(s): 43146 point Profit
_______________________________________________
Trade Setup:
We opened 22 BUY trade(s) @ 1177.72 (day close price) based on 'Valley' at 2014.11.07.

Closed Profit:
TP1 @ 1196.70 touched at 2014.11.18 with 1898 point Profit.
TP2 @ 1238.00 touched at 2014.12.09 with 6028 point Profit.
TP3 @ 1262.55 touched at 2015.01.15 with 8483 point Profit.
TP4 @ 1291.30 touched at 2015.01.20 with 11358 point Profit.
1898 + 6028 + 8483 + 11358 = 27767 point

Open Profit:
Profit for one trade is 1201.69(current price) - 1177.72(open price) = 2397 point
18 trades are still open, therefore total profit for open trades is 2397 x 18 = 43146 point
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1157.00 to 1127.70). 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 (1157.00)
    • Support on 12/01/2014
    • Support on 11/14/2014
    • Support on 11/13/2014
    • Support on 11/12/2014
    • Support on 07/28/2010
    • Support on 07/27/2010
    • Support on 05/05/2010
    • Resistance on 04/23/2010
    • Resistance on 04/14/2010
    • Resistance on 04/13/2010
    • Support on 01/12/2010
    • Resistance on 01/12/2010
  • Ending of entry zone (1127.70)
    • Support on 04/19/2010
    • Resistance on 04/02/2010
    • Resistance on 04/01/2010
    • Resistance on 03/19/2010
    • Resistance on 03/18/2010
    • Resistance on 03/17/2010
    • Resistance on 03/16/2010
    • Resistance on 03/10/2010
    • Support on 03/05/2010
    • Support on 03/04/2010
    • Resistance on 02/22/2010
    • Resistance on 02/19/2010
    • Resistance on 02/17/2010
    • Support on 02/03/2010
DateFebruary 21, 2015 - 21:02
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:

  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 37.

Take Profits:

  1. 1196.70
  2. 1238.00
  3. 1262.55
  4. 1291.30
  5. 1312.25
  6. 1347.95
  7. 1390.00
  8. 1412.50
  9. 1433.50
  10. 1478.20
  11. 1539.95
  12. 1560.00
  13. 1595.20
  14. 1627.95
  15. 1666.00
  16. 1695.00
  17. 1720.00
  18. 1750.00
  19. 1785.00
  20. 1842.25
  21. 1920.60
Click on the level to view price action history.
Symbol Released Current Forecast
Gold (XAUUSD) new 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.