Yesterday the gold completes the A-B-C correction waves at the end price of 1642, which is a little bit higher than we initial estimate 1635. The C seems little weaker than I expect.
watch, the price breaks out the downtrend channel at 1657, so don't be stubborn on short position. Thus, I will be neutral about the future direction until another breakout happens. It's still easy to draw the resistence and support.
Support 1642, 1650
Resistence 1666
I am expecting the Gold will swing in the area
Price like 1684 or 1634 are still important but they are too far from the current price and I'm an intra-day trader.
Here's my trading plan today:
Short: 1665 . SL 1670, TP 1650
buy: 1650, 1644 . SL 1640, TP 1666
NOTE: follow with your own Risk
wechat: 56349014
watch, the price breaks out the downtrend channel at 1657, so don't be stubborn on short position. Thus, I will be neutral about the future direction until another breakout happens. It's still easy to draw the resistence and support.
Support 1642, 1650
Resistence 1666
I am expecting the Gold will swing in the area
Price like 1684 or 1634 are still important but they are too far from the current price and I'm an intra-day trader.
Here's my trading plan today:
Short: 1665 . SL 1670, TP 1650
buy: 1650, 1644 . SL 1640, TP 1666
NOTE: follow with your own Risk
wechat: 56349014
Trade active:
Trade open already:
Sell 1665
Sell 1665
Trade active:
Add another slots at 1666
Trade active:
Add another postion at 1667.5
Trade closed: target reached:
my target profit reaches.
Even the support line in my analysis is around 1650. I decide to close all my position at 1653.
Pips in this trade, 1667 - 1653 = 140 pips
Even the support line in my analysis is around 1650. I decide to close all my position at 1653.
Pips in this trade, 1667 - 1653 = 140 pips
Trade active:
I opened my long position now.
buy at 1652.5
buy at 1652.5
Comment:
I add another buy at 1650
Comment:
add another buy at 1647.
Comment:
Add my final position at 1644 as planned.
SL : 1638
SL : 1638
Gold jumps to 1671 but drops very quickly which is still not a valid breakout.
I will monitor my orders and manually close if gold price continue growing.