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/ 01 /28
===================Analysis=================
Yesterday Gold droped to 1831 and then start an insane rebounce to 1850 without any stop.
However, it slowly falls down to 1836 now which indicates that the market lacks of sustainable buying power.
Yesterday rebounce was strong but still little bit off to break the descending trendline, so the market is still in bearish mode.
There's no good trading opportunity at current price 1836, and below are the possible situations that could happen.
=================Possible Situation==========
No.1 Gold tests 1831 again and bounce back.
No.2 Gold tests 1831 and break downside strongly.
No.3 Gold will be doing consolidation between 1831 and 1845.
No.4 Gold goes above 1845 and hit 1850 to break the down trend in short period.
The possible move could be : No.1 ==> No.3 ==> No.2
==================My Trading Plan=================
Based on these situation:
The support: 1829-1831
The resistence: 1843-1845
Sell stop: 1829, SL 1835 , TP 1805
sell limit: 1845 SL 1850 , TP 1831
Buy limit: 1830 area, SL 1827, TP 1842-1845
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/ 01 /28
===================Analysis=================
Yesterday Gold droped to 1831 and then start an insane rebounce to 1850 without any stop.
However, it slowly falls down to 1836 now which indicates that the market lacks of sustainable buying power.
Yesterday rebounce was strong but still little bit off to break the descending trendline, so the market is still in bearish mode.
There's no good trading opportunity at current price 1836, and below are the possible situations that could happen.
=================Possible Situation==========
No.1 Gold tests 1831 again and bounce back.
No.2 Gold tests 1831 and break downside strongly.
No.3 Gold will be doing consolidation between 1831 and 1845.
No.4 Gold goes above 1845 and hit 1850 to break the down trend in short period.
The possible move could be : No.1 ==> No.3 ==> No.2
==================My Trading Plan=================
Based on these situation:
The support: 1829-1831
The resistence: 1843-1845
Sell stop: 1829, SL 1835 , TP 1805
sell limit: 1845 SL 1850 , TP 1831
Buy limit: 1830 area, SL 1827, TP 1842-1845
Trade active:
sell in around 1843 as planned
Trade closed: stop reached:
1850 stop hit.
in short period Gold breaks the down trend
in short period Gold breaks the down trend
