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: 2020/08/10
No plan, No trading
Entry reason:
I'm thinking Gold is still in the big cycle of A-B-C correction wave pattern and now is in the move of A with another 3-wave pattern a-b-c. (Not confirmed, just a guess for now)
In the H1 chart, most indicators already turn into short bullish trend so, it's better to wait in the price in the middle.
2050 now becomes the key resistence and if the previous assumption (a-b-c) is confirmed, I would expect another drop to 2000 in a few days.
2015 is the key support line, and with a strong break down, I can sell stop for some quick profit.
So here's my plan:
Sell from 2045 - 2052, SL 2055 , TP 2015, 2000
sell stop 2014, TP 2000 , SL 2022
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: 2020/08/10
No plan, No trading
Entry reason:
I'm thinking Gold is still in the big cycle of A-B-C correction wave pattern and now is in the move of A with another 3-wave pattern a-b-c. (Not confirmed, just a guess for now)
In the H1 chart, most indicators already turn into short bullish trend so, it's better to wait in the price in the middle.
2050 now becomes the key resistence and if the previous assumption (a-b-c) is confirmed, I would expect another drop to 2000 in a few days.
2015 is the key support line, and with a strong break down, I can sell stop for some quick profit.
So here's my plan:
Sell from 2045 - 2052, SL 2055 , TP 2015, 2000
sell stop 2014, TP 2000 , SL 2022
Trade active:
Short position entered as planned
Trade closed: target reached
