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: 2020/09/09
No plan, No trading
------------------
Entry reason:
Gold drops to 1906 and then make a crazy $30 rebounce to the current price 1938 now.
From my previous wave count, Gold already break the daily trendline (the pink one) and now here it re retest the trendline which turns into a resistence instead of support.
I'm seeing gold is forming a flat top + increase scale bottom format (correction wave a-b-c-d-e), which means 1940 is the best selling point again in my scenario.
And then it will comes the real drop (wave 3 of C) down the a new lower low.
Break down to 1900 will confirm the drop.
Thus, I will still go short but high tight SL set up here.
So here's my plan:
Sell 1938- 1945, SL 1950. TP 1800 +
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: 2020/09/09
No plan, No trading
------------------
Entry reason:
Gold drops to 1906 and then make a crazy $30 rebounce to the current price 1938 now.
From my previous wave count, Gold already break the daily trendline (the pink one) and now here it re retest the trendline which turns into a resistence instead of support.
I'm seeing gold is forming a flat top + increase scale bottom format (correction wave a-b-c-d-e), which means 1940 is the best selling point again in my scenario.
And then it will comes the real drop (wave 3 of C) down the a new lower low.
Break down to 1900 will confirm the drop.
Thus, I will still go short but high tight SL set up here.
So here's my plan:
Sell 1938- 1945, SL 1950. TP 1800 +
