Instead of calling Gold analysis, I would use the term of trading plan or trading journal to record my trades.
So please note: This is a personal journal only, but NOT a trading suggestion. Please control your own risk if you want to follow, we may have different risk preference and position management strategy.
Date: 2020/11/24
Many people suffered a big loss on the capital on yesterday's drop, so did I, while a big group of people laugh and left with a big profit.
I should notice the start of the wave buy my eyes were blinded.
No plan, No trading
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Entry reason:
Gold made an unpredictable drop to 1831 yesterday and so far the bearish power takes a rest to determine next direction.
From the chart, I saw a quite typical falling wedge pattern in the chart, which indicates that the reversal could probably happen.
There's a divergence potential may appear in the MACD (only confirm on a reversal signal appears) and RSI is in the oversold zone.
Most of these signals show a potential move up in this or next week but I need at least one H4 candle to confirm the direction change.
So here's my plan:
buy when a bullish H4 candle appears, SL 1828, TP1 1850 1879
So please note: This is a personal journal only, but NOT a trading suggestion. Please control your own risk if you want to follow, we may have different risk preference and position management strategy.
Date: 2020/11/24
Many people suffered a big loss on the capital on yesterday's drop, so did I, while a big group of people laugh and left with a big profit.
I should notice the start of the wave buy my eyes were blinded.
No plan, No trading
------------------
Entry reason:
Gold made an unpredictable drop to 1831 yesterday and so far the bearish power takes a rest to determine next direction.
From the chart, I saw a quite typical falling wedge pattern in the chart, which indicates that the reversal could probably happen.
There's a divergence potential may appear in the MACD (only confirm on a reversal signal appears) and RSI is in the oversold zone.
Most of these signals show a potential move up in this or next week but I need at least one H4 candle to confirm the direction change.
So here's my plan:
buy when a bullish H4 candle appears, SL 1828, TP1 1850 1879
Order cancelled:
This idea is INVALID now. Gold has broken the key support
