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: 2020/11/10
No plan, No trading
Gold was insane due to the news of vaccine yesterday.
I made a small profit but lose a HUGE potential.
Gold made a crazy drop for $110 in one day. The same thing happened 3 month ago on Aug. 11th. The scale level of movement is barely to see, maybe only 3 times per year.
If you don't catch the trend, don't need to worry because it is an indicator for next direction.
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Entry reason:
Intra-day trend: Bearish
Gold touches 1850+ yesterday with a crazy drop and it needs some breath to go more deeper. It's in the correction movement from 1850 now and another slow down is highly expected.
The key resistence level is : 1895 (fib 38.2%) , 1907 (fib 50%)
The market will lose some momentum after a big move, so the market will mainly ranging these days.
So here's my plan:
Short:
Sell from 1895 - 1907.
TP 1850
Long:
Buy from 1870-1875, TP 1895 (only valid before Gold hit 1895)
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: 2020/11/10
No plan, No trading
Gold was insane due to the news of vaccine yesterday.
I made a small profit but lose a HUGE potential.
Gold made a crazy drop for $110 in one day. The same thing happened 3 month ago on Aug. 11th. The scale level of movement is barely to see, maybe only 3 times per year.
If you don't catch the trend, don't need to worry because it is an indicator for next direction.
------------------
Entry reason:
Intra-day trend: Bearish
Gold touches 1850+ yesterday with a crazy drop and it needs some breath to go more deeper. It's in the correction movement from 1850 now and another slow down is highly expected.
The key resistence level is : 1895 (fib 38.2%) , 1907 (fib 50%)
The market will lose some momentum after a big move, so the market will mainly ranging these days.
So here's my plan:
Short:
Sell from 1895 - 1907.
TP 1850
Long:
Buy from 1870-1875, TP 1895 (only valid before Gold hit 1895)
Trade active:
long already in at 1872
Comment:
11/11 plan is same as 11/10
