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: 2020/10/26
No plan, No trading
------------------
Entry reason:
From the large cycle analysis, I still hold my opinion that Gold didn't complete the BIG correction wave C.
The Gold broke the asceding trendline on last Friday, and complete a 5-wave cycle movement. It's highly possible that the direction is made and just accumulates more power for a big change.
It seems that A-B-C of the previous cycle also completed today at 1909.
I will still do short only as long as Gold remain below 1910.
I made an assumption for next cycle (drawn in purple), based on this assumption, I would like to do the below plan
So here's my plan.
Short:
sell from any price from 1905- 1910. SL 1915 , TP 1893, 1875
Sell stop 1897, TP 1888
The key support now is: 1893, 1875, 1850
Long:
No plan to long yet even the Gold touches the support line, because if the trend really comes, the support will become so weak.
Maybe quick scalp at 1850
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: 2020/10/26
No plan, No trading
------------------
Entry reason:
From the large cycle analysis, I still hold my opinion that Gold didn't complete the BIG correction wave C.
The Gold broke the asceding trendline on last Friday, and complete a 5-wave cycle movement. It's highly possible that the direction is made and just accumulates more power for a big change.
It seems that A-B-C of the previous cycle also completed today at 1909.
I will still do short only as long as Gold remain below 1910.
I made an assumption for next cycle (drawn in purple), based on this assumption, I would like to do the below plan
So here's my plan.
Short:
sell from any price from 1905- 1910. SL 1915 , TP 1893, 1875
Sell stop 1897, TP 1888
The key support now is: 1893, 1875, 1850
Long:
No plan to long yet even the Gold touches the support line, because if the trend really comes, the support will become so weak.
Maybe quick scalp at 1850
Trade closed: target reached:
Close partial of my profit at 1893 now
Comment:
I will re-short at 1898 again
Comment:
shit. I don't have chance to enter again.
miss the big profit
miss the big profit
Trade closed: target reached:
1875 reached
suggest taken out of all short now.
suggest taken out of all short now.
