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: 2020/09/02
No plan, No trading
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Entry reason:
Yesterday I posted an idea :
In a bearish view:
I'm still holding my original opinion that the Big C is not completed yet, but I don't know when it will happen. We can only confirm it once the Gold breaks the pink TL.
This drop gives me another high point to make a top TL, from which I'm thinking gold is makeing the big consolidation wave in a big range to finnally form the wave B. 1990 could be the recent high point that will not be exceeded for a long time.
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Gold is now near the bottom pink trendline, and a rebounce could happen to complete the final consolidation move (e) before the big drop.
Of course there's possibile that gold could directly go down, I would use sell stop to catch this opportunity.
Key support: 1933
Key resistence: 1955 1975
So here's my plan:
Buy from 1933-1936, SL : 1930, TP 1955 1975
Sell stop: 1930, TP 1865
Sell limit : 1970-1980 , SL 1985, TP 1940, 1900 , 1865
I'm more bias on short direction. So I may ignore the buy opportunity or just use small slot to verify my idea.
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: 2020/09/02
No plan, No trading
------------------
Entry reason:
Yesterday I posted an idea :
In a bearish view:
I'm still holding my original opinion that the Big C is not completed yet, but I don't know when it will happen. We can only confirm it once the Gold breaks the pink TL.
This drop gives me another high point to make a top TL, from which I'm thinking gold is makeing the big consolidation wave in a big range to finnally form the wave B. 1990 could be the recent high point that will not be exceeded for a long time.
==================
Gold is now near the bottom pink trendline, and a rebounce could happen to complete the final consolidation move (e) before the big drop.
Of course there's possibile that gold could directly go down, I would use sell stop to catch this opportunity.
Key support: 1933
Key resistence: 1955 1975
So here's my plan:
Buy from 1933-1936, SL : 1930, TP 1955 1975
Sell stop: 1930, TP 1865
Sell limit : 1970-1980 , SL 1985, TP 1940, 1900 , 1865
I'm more bias on short direction. So I may ignore the buy opportunity or just use small slot to verify my idea.
Trade active:
Long opened at 1933 now
Trade active:
Long hit SL
I'm opening short now
I'm opening short now
