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: 2020/11/09
No plan, No trading
The U.S election is almost end. Bidon has won the most votes and Trump is very likely to defend his right. The violation of the market is not going to end soon.
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Entry reason:
Gold opened high at the open of this market then drops to 1955 once but now hit a new high.
Intra-day trend: Bullish
Gold is now in the over-bought zone and divergence appears in the MACD indicator. Even the intra-day trend is still bullish, I won't enter buy above 1960.
There's a key resistence at the platform 1970, Gold break above this level will confirm a real bull to 2000+.
Any rejection appears here will indicates the market is still just swing but in a big range.
WIth wave count, gold may completes its 1st 5-wave at 1970 and a pull back to 1930 area is expected before rise again.
So here's my plan:
Short:
Sell from 1965 - 1970 or when a H1 reverse confirmed.
TP 1930
SL, 1975
Long:
buy limit at 1930-
Buy stop at 1973+-
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: 2020/11/09
No plan, No trading
The U.S election is almost end. Bidon has won the most votes and Trump is very likely to defend his right. The violation of the market is not going to end soon.
------------------
Entry reason:
Gold opened high at the open of this market then drops to 1955 once but now hit a new high.
Intra-day trend: Bullish
Gold is now in the over-bought zone and divergence appears in the MACD indicator. Even the intra-day trend is still bullish, I won't enter buy above 1960.
There's a key resistence at the platform 1970, Gold break above this level will confirm a real bull to 2000+.
Any rejection appears here will indicates the market is still just swing but in a big range.
WIth wave count, gold may completes its 1st 5-wave at 1970 and a pull back to 1930 area is expected before rise again.
So here's my plan:
Short:
Sell from 1965 - 1970 or when a H1 reverse confirmed.
TP 1930
SL, 1975
Long:
buy limit at 1930-
Buy stop at 1973+-
Trade active:
I'm in sell at 1960 now . SL 1965
Trade closed: target reached:
I'm OUT of my long at 1936 NOW
Trade closed: target reached:
TP 1930 reached.
Comment:
Plan to enter short again at 1920
Comment:
OH SHIT.
I EXIT TOOOOOOOO EARLY.
I EXIT TOOOOOOOO EARLY.
Trade active:
I'm in LONG now at 1871
Trade active:
Long add at 1862
Trade closed: target reached:
Long close now at 1881
