I've been a long time for not publishing ideas in Tradingview. Many people send kind and warming words and I'm very grateful for that.
If you followed my past analysis for a while, you might see I have a pretty nice wining rate of my plan and prediction. However, I still lose a lot of money which almost makes me brankrupt.
Logically you know what is right, but you just reject to do so.I feel I still should keep my journal so that I can follow what the market is going on.
So please note: This is a personal journal only, but NOT a trading suggestion.
Date: 2021/ 09/21
===================Analysis=================
Gold broke 1780 support and reached down to 1742, the new lower last week.
In my 0914 0915 analysis, I gave the second scenario that in case Gold went downside, it will confirm a bearish shorterm trend.
There's a possibility that gold forms a new bearish 5-wave pattern and right now we are in the wave-4. (As shown in the chart)
Right now we see 1766 becomes a small resistence, and the range area is: 1766-1740
PLEASE NOTE : The 5-wave pattern will become invalid, if Gold rise above 1780. As long as the price stay below 1780. My assumption will not change.
If the gold breaks the trendline, it means the previous wave might be a A-B-C pattern.
=================Possible Situation==========
WHY different plan is important? We are not trying to predict the market, but are trying to trade no matter where the market goes.
No.1 Gold drops from 1766 and ranges between 1743 - 1766
No.2 Gold drops from 1766 and down to a new lower low.
No.3 Gold rises above 1766 and possiblily test 1780
==================My Trading Plan=================
Based on these situation:
The key resistence : 1766, 1780
The key support: 1757, 1741
buy plan:
Buy stop : N/A
But limit: 1741, SL 1738, TP 1757
Sell plan:
Sell limit: 1766-1768 area. SL 1771, TP 1753, 1743. (Anti-trend for the short term, but R&R ratio is OK)
sell stop : 1756, SL 1760, tp 1742
1738, 1739. SL 1745, TP 1713
If you followed my past analysis for a while, you might see I have a pretty nice wining rate of my plan and prediction. However, I still lose a lot of money which almost makes me brankrupt.
Logically you know what is right, but you just reject to do so.I feel I still should keep my journal so that I can follow what the market is going on.
So please note: This is a personal journal only, but NOT a trading suggestion.
Date: 2021/ 09/21
===================Analysis=================
Gold broke 1780 support and reached down to 1742, the new lower last week.
In my 0914 0915 analysis, I gave the second scenario that in case Gold went downside, it will confirm a bearish shorterm trend.
There's a possibility that gold forms a new bearish 5-wave pattern and right now we are in the wave-4. (As shown in the chart)
Right now we see 1766 becomes a small resistence, and the range area is: 1766-1740
PLEASE NOTE : The 5-wave pattern will become invalid, if Gold rise above 1780. As long as the price stay below 1780. My assumption will not change.
If the gold breaks the trendline, it means the previous wave might be a A-B-C pattern.
=================Possible Situation==========
WHY different plan is important? We are not trying to predict the market, but are trying to trade no matter where the market goes.
No.1 Gold drops from 1766 and ranges between 1743 - 1766
No.2 Gold drops from 1766 and down to a new lower low.
No.3 Gold rises above 1766 and possiblily test 1780
==================My Trading Plan=================
Based on these situation:
The key resistence : 1766, 1780
The key support: 1757, 1741
buy plan:
Buy stop : N/A
But limit: 1741, SL 1738, TP 1757
Sell plan:
Sell limit: 1766-1768 area. SL 1771, TP 1753, 1743. (Anti-trend for the short term, but R&R ratio is OK)
sell stop : 1756, SL 1760, tp 1742
1738, 1739. SL 1745, TP 1713
