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: 2020/06/19
No plan, No trading
Entry reason:
Gold is in the wave-2 with a consolidating triangle (A-B-C-D-E) pattern and it's in the final move of E right now. af
Gold spiked up to 1737 and break the key resistence 1730 but quickly drop back to the channel in next few hours. So this pattern is still valid as I shared yesterday.
Once the correction wave 2 is finished, a big drop to a new lower low is highly possible.
If 1705 support is broken, 1680 is an easy target to reach for sellers.
So here's my plan:
short 1730-1735, SL 1735, TP 1720, 1705, 1680
Sell stop: 1718, TP 1705 1680, sl 1725
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: 2020/06/19
No plan, No trading
Entry reason:
Gold is in the wave-2 with a consolidating triangle (A-B-C-D-E) pattern and it's in the final move of E right now. af
Gold spiked up to 1737 and break the key resistence 1730 but quickly drop back to the channel in next few hours. So this pattern is still valid as I shared yesterday.
Once the correction wave 2 is finished, a big drop to a new lower low is highly possible.
If 1705 support is broken, 1680 is an easy target to reach for sellers.
So here's my plan:
short 1730-1735, SL 1735, TP 1720, 1705, 1680
Sell stop: 1718, TP 1705 1680, sl 1725
Trade closed: stop reached
