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: 2020/06/122
No plan, No trading
Entry reason:
Gold has broken the key resistence 1745 line and reached 1758 high early this morning, which confirms the short term direction to be bullish. A H & S pattern is quite clear on the chart.
I should be aware of possible reverse on the previous high 1763, while in the intra-day trading period, the 1745 becomes a really good support to enter a long opportunity.
So here's my plan:
Buy at: 1745-1750 ,sl 1740, TP 1763, 1780
============Previous trading result update:=============
Emotion: sad. Gold break the consolidating area and turns the direction into bullish, however i didn't catch the chance but still holding my stupid short until a huge loss happened.
Even I set my SL at 1735, however I was expecting an unexisted reverse happened at 1745, so I move the SL to higher and higher and lose a lot of money.
Result: 1730 SHORT should SL at 1735 BUT SL at 1745
Lesson learned:
1. Lose an arm is better than lose your whole body.
2. Trust the first line you drew, don't change the chart analyse too much.
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: 2020/06/122
No plan, No trading
Entry reason:
Gold has broken the key resistence 1745 line and reached 1758 high early this morning, which confirms the short term direction to be bullish. A H & S pattern is quite clear on the chart.
I should be aware of possible reverse on the previous high 1763, while in the intra-day trading period, the 1745 becomes a really good support to enter a long opportunity.
So here's my plan:
Buy at: 1745-1750 ,sl 1740, TP 1763, 1780
============Previous trading result update:=============
Emotion: sad. Gold break the consolidating area and turns the direction into bullish, however i didn't catch the chance but still holding my stupid short until a huge loss happened.
Even I set my SL at 1735, however I was expecting an unexisted reverse happened at 1745, so I move the SL to higher and higher and lose a lot of money.
Result: 1730 SHORT should SL at 1735 BUT SL at 1745
Lesson learned:
1. Lose an arm is better than lose your whole body.
2. Trust the first line you drew, don't change the chart analyse too much.
Trade active:
Buy at 1745 now.
Trade closed: target reached:
My TP 1763 reached. closed
1800 pips profit
1800 pips profit
