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.
I was so adicated to trade even sometimes when plan are not available, and in return, it costs me 200k USD to learn the fact, that not everyday we have opportunity to trade.
So please note: This is a personal journal only, but NOT a trading suggestion.
Date: 2021/ 02 / 23
===================Analysis=================
Gold broke the previous the 1790 resistence and now already tests the 2nd resistence zone 1810-1815 area.
It shows a reversal signal in H4 period which indicate that the resistence is validated and the short term trend has turned into bearish again.
The previous 1790 now becomes a support area.
=================Possible Situation==========
No.1. Gold drops to 1790 and then rebounce again.
No.2 Gold drops to 1790 and tests the low 1760 again.
No.3 Gold fails to drop but rise with some special news and break above 1815 and turns bullish.
==================My Trading Plan=================
Based on these situation:
The key resistence : 1815
The key support: 1760 1790
buy limit 1790, SL 1785, TP 1815
Sell limit: 1810-1815 , SL 1817, tp 1790
buy stop at 1816,
Sell stop, 1788
These buy stop & sell stop order is hard to set SL, so I will use trailing SL instead of fixed price.
I was so adicated to trade even sometimes when plan are not available, and in return, it costs me 200k USD to learn the fact, that not everyday we have opportunity to trade.
So please note: This is a personal journal only, but NOT a trading suggestion.
Date: 2021/ 02 / 23
===================Analysis=================
Gold broke the previous the 1790 resistence and now already tests the 2nd resistence zone 1810-1815 area.
It shows a reversal signal in H4 period which indicate that the resistence is validated and the short term trend has turned into bearish again.
The previous 1790 now becomes a support area.
=================Possible Situation==========
No.1. Gold drops to 1790 and then rebounce again.
No.2 Gold drops to 1790 and tests the low 1760 again.
No.3 Gold fails to drop but rise with some special news and break above 1815 and turns bullish.
==================My Trading Plan=================
Based on these situation:
The key resistence : 1815
The key support: 1760 1790
buy limit 1790, SL 1785, TP 1815
Sell limit: 1810-1815 , SL 1817, tp 1790
buy stop at 1816,
Sell stop, 1788
These buy stop & sell stop order is hard to set SL, so I will use trailing SL instead of fixed price.
Trade active:
sell in at 1812 now.
Trade closed: target reached:
I close half position at 1800 now
Trade active:
add sell again at 1808 rebounce
