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: 2020/11/18
No plan, No trading
I hit the SL in yesterday trade but it didn't change my trading direction. I would still go long for now but just for a better entry point
Intra-day trend: Neutral ------------------
Entry reason:
Gold is approaching the asceding bottom trendline after the previous rebounce from 1864. Unless it broke the trendline, the gold is still in in the ascending channel.
So here's my plan:
key resistence: 1885 1898 1907 Key support: 1870
Short: Sell from 1898 - 1907 , , TP 1885 area , SL 1910
Long: buy from 1870-1876. SL 1867 TP 1895
Trade active
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I'm in long now at 1876, plan to add long at 1872 if touched.
Trade active
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Long add at 1872 now
Comment
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Gold is now in the really key point. Any rebounce from here will confirm a 1900+ high.
Otherwise, 1840- 1850 is highly expected.
Comment
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current price 1871
Trade closed: stop reached
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shit hit SL again
Trade active
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I'm in long again at 1870, I think it's a fake breakout.