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: 2020/11/02
No plan, No trading
REMINDER: The marker is gonna be super violate today and tomorrow. I don't recommend all of you to trade at these days.
I am still doing analysis as usual but it's not a trading suggestion.
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Entry reason:
Technically, the Gold is still under bearish trend since last big drop from 1930 to 1860. Current rebounce makes a $37 rise since 1860.
Gold is currently moving at the resistence zone (red rectangle), and it's likely to go a little bit higher.
The trend turning point is at 1905 (marked in the chart), unless Gold break above this point, I would still mainly go short direction.
The 61.8% fib of the previsou drop is also at 1903-1905 area which seems a double confirm for me to short the market.
The price will be super violate for sure, and if any reverse signal happens around 1905, I would go sell for the gold.
There's also ocassion that gold goes above the trendline, which indicats strong buying power due to the U.S election bad results, and in this case, maybe a quick buy stop have nice chance to win.
So here's my plan:
Short:
sell around 1905, SL 1910
only when a M15 bar confirm the reverse.
Long:
buy stop 1905, TP 1925
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: 2020/11/02
No plan, No trading
REMINDER: The marker is gonna be super violate today and tomorrow. I don't recommend all of you to trade at these days.
I am still doing analysis as usual but it's not a trading suggestion.
------------------
Entry reason:
Technically, the Gold is still under bearish trend since last big drop from 1930 to 1860. Current rebounce makes a $37 rise since 1860.
Gold is currently moving at the resistence zone (red rectangle), and it's likely to go a little bit higher.
The trend turning point is at 1905 (marked in the chart), unless Gold break above this point, I would still mainly go short direction.
The 61.8% fib of the previsou drop is also at 1903-1905 area which seems a double confirm for me to short the market.
The price will be super violate for sure, and if any reverse signal happens around 1905, I would go sell for the gold.
There's also ocassion that gold goes above the trendline, which indicats strong buying power due to the U.S election bad results, and in this case, maybe a quick buy stop have nice chance to win.
So here's my plan:
Short:
sell around 1905, SL 1910
only when a M15 bar confirm the reverse.
Long:
buy stop 1905, TP 1925
Trade active:
i add a short at 1908
The original buy stop order is not valid yet, I plan to buy stop at 1911 if it shows more power here