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: 2020/06/30
No plan, No trading
Entry reason:
Gold has completed A-B-C correction wave and a strong rebounce up to 1775. I don't think Bullish is so confident at this price, neither berish.
The direction is unclear after A-B-C and Gold price is ranging between 1767-1775. It seems a bullish flag, but I won't trade as 100% bullish.
A better plan is wait for the break out up or down.
If it's going down, after gold breaks 1767, there's still a purple ascending TL at 1760.
if going up, 1775 is the key resistence and a break will aim to 1788 or higher.
So here's my plan:
Range trading:
buy 1767 1768, SL $1.5 , TP 1775
short at 1773-1775 , SL 1776, TP 1767
stop trading
buy stop 1776, TP 1788
sell stop 1766 , TP 1760, 1740
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: 2020/06/30
No plan, No trading
Entry reason:
Gold has completed A-B-C correction wave and a strong rebounce up to 1775. I don't think Bullish is so confident at this price, neither berish.
The direction is unclear after A-B-C and Gold price is ranging between 1767-1775. It seems a bullish flag, but I won't trade as 100% bullish.
A better plan is wait for the break out up or down.
If it's going down, after gold breaks 1767, there's still a purple ascending TL at 1760.
if going up, 1775 is the key resistence and a break will aim to 1788 or higher.
So here's my plan:
Range trading:
buy 1767 1768, SL $1.5 , TP 1775
short at 1773-1775 , SL 1776, TP 1767
stop trading
buy stop 1776, TP 1788
sell stop 1766 , TP 1760, 1740
Trade active:
sell opened 1766
