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: 2020/10/23
No plan, No trading
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Entry reason:
Gold is near the bottom edge of this consolidation area. It has broke it yesterday and touhes 1895 then start a rebounce. It shows some bullish power but it's not confident yet.
The direction is still not confirmed.
We should monitor on the movement in next 4 hours and if it breaks down again (under 1900), it's great to short again, and target 1870 area.
However if it goes up to 1907, then previous high will be the bullish target.
In my personal view, I will mainly go short.
So here's my plan.
Short:
sell stop 1900
Sell stop 1895
Long:
buy stop 1908
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: 2020/10/23
No plan, No trading
------------------
Entry reason:
Gold is near the bottom edge of this consolidation area. It has broke it yesterday and touhes 1895 then start a rebounce. It shows some bullish power but it's not confident yet.
The direction is still not confirmed.
We should monitor on the movement in next 4 hours and if it breaks down again (under 1900), it's great to short again, and target 1870 area.
However if it goes up to 1907, then previous high will be the bullish target.
In my personal view, I will mainly go short.
So here's my plan.
Short:
sell stop 1900
Sell stop 1895
Long:
buy stop 1908
Trade active:
Short in at 1912 now
Trade closed: target reached:
I'm out at 1896
