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/ 07
No plan, No trading
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Entry reason:
Gold was breaking the consolidation range, and now it's retesting the previos channel at 1895 this moment. This early morning it touches 1873 the lowest point. It's good to see a correction wave of the previous drop so that the bears will have more time to accumulate power to test a new lower low.
1873 was near our previous target 1850, and after this correction wave, I will expect another down in later future.
So here's my plan:
Short:
Sell limit 1895 - 1905, TP 1873
Sell stop 1870, TP 1850
Long:
Maybe buy at 1873 again.
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/ 07
No plan, No trading
------------------
Entry reason:
Gold was breaking the consolidation range, and now it's retesting the previos channel at 1895 this moment. This early morning it touches 1873 the lowest point. It's good to see a correction wave of the previous drop so that the bears will have more time to accumulate power to test a new lower low.
1873 was near our previous target 1850, and after this correction wave, I will expect another down in later future.
So here's my plan:
Short:
Sell limit 1895 - 1905, TP 1873
Sell stop 1870, TP 1850
Long:
Maybe buy at 1873 again.
Trade active:
1st short in now at 1897
Trade closed: target reached:
profit taken for swing trade.
