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: 2020/10/21
No plan, No trading
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Entry reason:
Gold didn't break downside as expected yesterday, and now is approaching the upper edge of this consolidation channel due to the stimulation news.
The real direction is still unclear at this moment, and we should not be too aggressive on making trading decisioin, either buy or short. Only a small test with light position is allwed at this moment.
The 1920 is now real key resistence to confirm the next movememt. Break up 1920 will confrim a bullish trend, and otherwise, I will still expect Gold drop down to 1850 again.
Short:
Short at 1920 , SL 1923. TP 1902
Even the trend is not clear, but risk & reward ratio is quite good for this trade, So I would place a trade here.
Long:
Buy stop 1923, tp 1932,
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: 2020/10/21
No plan, No trading
------------------
Entry reason:
Gold didn't break downside as expected yesterday, and now is approaching the upper edge of this consolidation channel due to the stimulation news.
The real direction is still unclear at this moment, and we should not be too aggressive on making trading decisioin, either buy or short. Only a small test with light position is allwed at this moment.
The 1920 is now real key resistence to confirm the next movememt. Break up 1920 will confrim a bullish trend, and otherwise, I will still expect Gold drop down to 1850 again.
Short:
Short at 1920 , SL 1923. TP 1902
Even the trend is not clear, but risk & reward ratio is quite good for this trade, So I would place a trade here.
Long:
Buy stop 1923, tp 1932,
Trade active:
short in at 1920 now
Trade closed: stop reached:
I hit SL again at 1923. wait other opportunity now.
