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: 2020/07/06
No plan, No trading
Entry reason:
Gold reached a key point again at 1774, which is again around the bullish trendline.
There will be 2 possible move for next week:
No.1
Slowly rise to 1780 on monday, and will accumulate its power and try to retest a new high (wave-5)
No.2
Gold moves horizontal or drop a little bit down to the TL, which indicates Gold completed wave 5 and start A-B-C correction. And 1778 is the right shoulder or B-wave.
A: 1788 - 1757
B: 1757 - 1780
C: ?
So here's my plan:
buy stop at 1781-1782, sl 1773, TP 1788 1810
Short at 1780 , SL 1785. TP-1750
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: 2020/07/06
No plan, No trading
Entry reason:
Gold reached a key point again at 1774, which is again around the bullish trendline.
There will be 2 possible move for next week:
No.1
Slowly rise to 1780 on monday, and will accumulate its power and try to retest a new high (wave-5)
No.2
Gold moves horizontal or drop a little bit down to the TL, which indicates Gold completed wave 5 and start A-B-C correction. And 1778 is the right shoulder or B-wave.
A: 1788 - 1757
B: 1757 - 1780
C: ?
So here's my plan:
buy stop at 1781-1782, sl 1773, TP 1788 1810
Short at 1780 , SL 1785. TP-1750
Comment:
Gold breaks the TL, I'm opening my short now. SL 1780
