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: 2020/09/22
No plan, No trading
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Entry reason:
Gold has broken the ascending trendline and the last drop to 1883 was already a confirmation of the start of wave C.
Gold currently is also testing a lower low around 1870 area, which was a previous support if we look from daily range.
In my wave count, from 1970 to 1870, I am thinking gold already completes a small 5-wave pattern. (As shown in the chart for the 5 waves.)
It is possible that gold starts a quick A-B-C correction before going further.
If gold drops below 1860, then the pattern will become invalid.
So here's my plan:
Buy from 1860 - 1870 , SL 1855, TP 1897
Sell at 1895 - 1910 area.
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: 2020/09/22
No plan, No trading
------------------
Entry reason:
Gold has broken the ascending trendline and the last drop to 1883 was already a confirmation of the start of wave C.
Gold currently is also testing a lower low around 1870 area, which was a previous support if we look from daily range.
In my wave count, from 1970 to 1870, I am thinking gold already completes a small 5-wave pattern. (As shown in the chart for the 5 waves.)
It is possible that gold starts a quick A-B-C correction before going further.
If gold drops below 1860, then the pattern will become invalid.
So here's my plan:
Buy from 1860 - 1870 , SL 1855, TP 1897
Sell at 1895 - 1910 area.
Trade active:
Buy in now at 1867
Comment:
Sorry I had a typo in the title. It should be 0923 Trading Plan, but I can't change it any more
Trade active:
add another buy at 1864 now. last buy at 1860 and SL 1855
Trade active:
Price drop fast, last buy added at 1857 now , SL move to 1852
Comment:
The reason I'm adding buy is that I think this broke is a SL hunt. most buy SL set up at 1960,
Trade closed: target reached:
close my long at 1876 now
