Instead of calling Gold analysis, I would use the term of trading journal to record my trades because I may not always have a plan to trade.
So please note: This is a personal journal only, but NOT a trading suggestion.
Date: 2021/ 03 / 23
===================Analysis=================
Gold is ranging in the collapsing triangle all day and now is approaching the bottom edge of the channel.
Let's watch out on this break out.
If gold drops down to 1730, will trigger a huge sell power to push Gold to 1720 easily, and if 1720 support broke, 1700 is highly expected.
=================Possible Situation==========
No.1 Gold rebounce from 1730 and will test previous high 1750 again.
No.2 Gold breaks down 1729 one more time, and 1720 would be an easy target and 1700 would be reachable.
==================My Trading Plan=================
Based on these situation:
The key resistence : 1745
The key support: 1727-1730, 1720
buy plan: no buy plan until I see a green bar in H2.
Sell plan: sell stop at 1727.
So please note: This is a personal journal only, but NOT a trading suggestion.
Date: 2021/ 03 / 23
===================Analysis=================
Gold is ranging in the collapsing triangle all day and now is approaching the bottom edge of the channel.
Let's watch out on this break out.
If gold drops down to 1730, will trigger a huge sell power to push Gold to 1720 easily, and if 1720 support broke, 1700 is highly expected.
=================Possible Situation==========
No.1 Gold rebounce from 1730 and will test previous high 1750 again.
No.2 Gold breaks down 1729 one more time, and 1720 would be an easy target and 1700 would be reachable.
==================My Trading Plan=================
Based on these situation:
The key resistence : 1745
The key support: 1727-1730, 1720
buy plan: no buy plan until I see a green bar in H2.
Sell plan: sell stop at 1727.
Comment:
I add a sell at 1732, and sell stop at 1729, 1727 , 1725.
Comment:
Down trend is confirmed!
Now there's nothing to do but just holding my position until 1720 or lower
Down trend is confirmed!
Now there's nothing to do but just holding my position until 1720 or lower
Trade active:
Sell added at 1733
Comment:
Plan not changed.
Still under short position.
Still under short position.
Trade closed: stop reached:
This reversal is crazy. I'm out
Trade closed: target reached:
The plan set up was mostly correct. The original target 1701 area is already reached
