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: 2020/09/07
No plan, No trading
------------------
Entry reason:
On Sept. 5th, the U.S announced the unemployeement data which makes Gold drop to 1917, which broke the daily trendline (pink one). Later, the Gold rebounce back to 1940 area today but now the price is still running below the trendline.
I think the gold is still on the bearish side but need more power to move forward.
It's ranging between 1925 and 1940. 1917 is now key support and a break will highly possible to trigger the real drop to 1875.
Key resistence: 1940
Key support: 1925 1917.
So here's my plan:
Sell whenever it rebounce to higher price, SL set up to 1943.
Buy stop around 1943 1945
Sell stop: 1915 , TP 1900
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: 2020/09/07
No plan, No trading
------------------
Entry reason:
On Sept. 5th, the U.S announced the unemployeement data which makes Gold drop to 1917, which broke the daily trendline (pink one). Later, the Gold rebounce back to 1940 area today but now the price is still running below the trendline.
I think the gold is still on the bearish side but need more power to move forward.
It's ranging between 1925 and 1940. 1917 is now key support and a break will highly possible to trigger the real drop to 1875.
Key resistence: 1940
Key support: 1925 1917.
So here's my plan:
Sell whenever it rebounce to higher price, SL set up to 1943.
Buy stop around 1943 1945
Sell stop: 1915 , TP 1900
Trade active:
short in at 1933
Trade active:
sell stop open 1915
