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Weekly forecast Gold technical chart
Symbol XAUUSD

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Trade Setup

#XAUUSD
Total Profit: 253177 point
Closed trade(s): 101377 point Profit
Open trade(s): 151800 point Profit
_______________________________________________
Trade Setup:
We opened 15 BUY trade(s) @ 1088.52 based on 'Two Day Reversal Candle' entry method at 2016.01.15.

Closed Profit:
TP1 @ 1098.00 touched at 2016.01.20 with 948 point Profit.
TP2 @ 1113.00 touched at 2016.01.26 with 2448 point Profit.
TP3 @ 1131.60 touched at 2016.02.03 with 4308 point Profit.
TP4 @ 1155.00 touched at 2016.02.04 with 6648 point Profit.
TP5 @ 1182.00 touched at 2016.02.08 with 9348 point Profit.
TP6 @ 1222.75 touched at 2016.02.11 with 13423 point Profit.
TP7 @ 1255.00 touched at 2016.02.11 with 16648 point Profit.
TP8 @ 1305.15 touched at 2016.06.16 with 21663 point Profit.
TP9 @ 1347.95 touched at 2016.06.24 with 25943 point Profit.
948 + 2448 + 4308 + 6648 + 9348 + 13423 + 16648 + 21663 + 25943 = 101377 point

Open Profit:
Profit for one trade is 1341.52(current price) - 1088.52(open price) = 25300 point
6 trade(s) still open, therefore total profit for open trade(s) is 25300 x 6 = 151800 point
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1070.00 to 1044.80). 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 (1070.00)
    • Support on 01/14/2016
    • Resistance on 12/30/2015
    • Resistance on 12/29/2015
    • Resistance on 12/18/2015
    • Support on 12/11/2015
    • Support on 12/10/2015
    • Support on 12/09/2015
    • Support on 12/08/2015
    • Support on 12/07/2015
    • Resistance on 12/02/2015
    • Resistance on 12/01/2015
    • Resistance on 11/30/2015
    • Support on 11/26/2015
    • Support on 11/25/2015
    • Support on 11/19/2015
    • Support on 11/18/2015
    • Support on 11/17/2015
    • Support on 02/11/2010
    • Support on 02/10/2010
    • Resistance on 10/14/2009
  • Ending of entry zone (1044.80)
    • Support on 12/03/2015
    • Support on 02/05/2010

DateAugust 21, 2016 - 11:14
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • The current trend is uptrend and the forecast is continuation 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 52.

Take Profits:

  1. 1098.00
  2. 1113.00
  3. 1131.60
  4. 1155.00
  5. 1182.00
  6. 1222.75
  7. 1255.00
  8. 1305.15
  9. 1347.95
  10. 1390.00
  11. 1433.50
  12. 1539.95
  13. 1785.00
  14. 1920.60
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