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: 2020/10/14
We have made a nice profit in the last short plan.
No plan, No trading
------------------
Entry reason:
I think gold has no clear direction and is just in a consolidation range as a collapsing triangle.
Break down to 1890 will trigger the next drop to 1850 area, but I don't know if it will happen tonight.
There's another possibility that the gold may start rebounce at 1895 area (as shown in the circle) and test the upper resistence again.
The resistence is 1904 1912 and 1920.
So here's my plan:
Short:
short at 1904 with tiny SL maybe $3 -4
sell stop at 1889
Long:
buy around 1895, SL 1889 , TP 1910
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: 2020/10/14
We have made a nice profit in the last short plan.
No plan, No trading
------------------
Entry reason:
I think gold has no clear direction and is just in a consolidation range as a collapsing triangle.
Break down to 1890 will trigger the next drop to 1850 area, but I don't know if it will happen tonight.
There's another possibility that the gold may start rebounce at 1895 area (as shown in the circle) and test the upper resistence again.
The resistence is 1904 1912 and 1920.
So here's my plan:
Short:
short at 1904 with tiny SL maybe $3 -4
sell stop at 1889
Long:
buy around 1895, SL 1889 , TP 1910
Trade active:
bought at 1892 now
Trade closed: target reached:
close at 1901
Trade active:
I add short now at 1905
