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 /29
===================Analysis=================
Yesterday was a joke day that Gold is just playing both bulls and bears. Smart people actually made a lot on yesterday move, hwoever, I am not belong to them.
Going down and up and down and up is a very typical ranging market but just in a very big range which is so easy to confuse and cheat people to make them believe it's a huge trend that lasts for weeks and months.
Gold is definately on the key level now 1862, breaking above this level will confirm the ranging is over. But any rejection here, will make gold drop again.
=================Possible Situation==========
No.1 Gold breaks 1860, and goes somewhere around 1870 and re-tests 1860 and start the bull trend.
No.2 Gold get rejected at 1860 and test 1840 or 1830 again.
==================My Trading Plan=================
Based on these situation:
The support: 1835-1840
The resistence: 1862-1865
sell limit: 1862, SL 1865, tp 1840 area.
Buy limit: 1836 area, SL 1830, tp 1860
Buy when gold retest 1860
or
sell at any signal that shows Gold get rejected.
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 /29
===================Analysis=================
Yesterday was a joke day that Gold is just playing both bulls and bears. Smart people actually made a lot on yesterday move, hwoever, I am not belong to them.
Going down and up and down and up is a very typical ranging market but just in a very big range which is so easy to confuse and cheat people to make them believe it's a huge trend that lasts for weeks and months.
Gold is definately on the key level now 1862, breaking above this level will confirm the ranging is over. But any rejection here, will make gold drop again.
=================Possible Situation==========
No.1 Gold breaks 1860, and goes somewhere around 1870 and re-tests 1860 and start the bull trend.
No.2 Gold get rejected at 1860 and test 1840 or 1830 again.
==================My Trading Plan=================
Based on these situation:
The support: 1835-1840
The resistence: 1862-1865
sell limit: 1862, SL 1865, tp 1840 area.
Buy limit: 1836 area, SL 1830, tp 1860
Buy when gold retest 1860
or
sell at any signal that shows Gold get rejected.
