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/ 06
No plan, No trading
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Entry reason:
Gold was approaching the daily timeframe descending trendline (1920 at this moment), It would be a strong resistence as well as the trend changing point for bearish and bullish.
In the shorter timeframe for intra-day trading, Gold forms an expansion triangle consolidation move in the range of 1890 - 1918.
We are still waiting market to choose the direction, and below 1920 I would continue short unless it hit my SL again.
If Gold gose downside and break 1895, it would confirm the drop to the previous support 1850, and if 1850 not holds, 1820 is highly possible.
We still need more candlesticks to completes the consolidation move. For safe trading, we can just wait until Gold break either side.
But if you have a little gambling mindset like me, I would short from the high area.
So here's my plan:
Short:
5% position at current price 1911 ,
10% position at 1915-1918 SL , 1922
5% position sell stop at 1893
5% position sell stop at 1885
TP target : 1895, 1880 1850.
buy:
buy stop at 1923
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/ 06
No plan, No trading
------------------
Entry reason:
Gold was approaching the daily timeframe descending trendline (1920 at this moment), It would be a strong resistence as well as the trend changing point for bearish and bullish.
In the shorter timeframe for intra-day trading, Gold forms an expansion triangle consolidation move in the range of 1890 - 1918.
We are still waiting market to choose the direction, and below 1920 I would continue short unless it hit my SL again.
If Gold gose downside and break 1895, it would confirm the drop to the previous support 1850, and if 1850 not holds, 1820 is highly possible.
We still need more candlesticks to completes the consolidation move. For safe trading, we can just wait until Gold break either side.
But if you have a little gambling mindset like me, I would short from the high area.
So here's my plan:
Short:
5% position at current price 1911 ,
10% position at 1915-1918 SL , 1922
5% position sell stop at 1893
5% position sell stop at 1885
TP target : 1895, 1880 1850.
buy:
buy stop at 1923
Trade active:
i entered 5% at 1911 and 10% of my position at 1917.5 now.
TO everyone who follow this idea, please control your risk.
It's a high profit trade but with low confidence to win at this moment, because the reversal signal doesn't appear yet
TO everyone who follow this idea, please control your risk.
It's a high profit trade but with low confidence to win at this moment, because the reversal signal doesn't appear yet
Trade active:
add 5% more short at 1920
Comment:
All orders are in profit.
Trade closed: target reached:
TP 2
Reached
Reached
