Oct 16 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: 2020/10/19
We have made a nice profit in the last short plan.
No plan, No trading
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Entry reason:
Gold is still in the consolidation triangle and there 2 key points to confirm the direction.
1913 is also a key resistence (the previous rebounc high), and is likely to be come the ending point E of the another small triangle based on the elliot wave count assumption.
Thus, I'm more confidence on continually shortting Gold unless Gold break up 1923.
So here's my plan:
Short:
Slightly short at 1913
Heavily sell limitat 1921. SL 1925
Sell stop : 1899
Long: Depends on the next bullish signal around 1900. Buy limit 1900 Buy stop 1923