Instead of calling Gold analysis, I would use the term of trading journal to record my trades because I may not always have a plan to trade.
I was so adicated to trade even sometimes when plan are not available, and in return, it costs me 200k USD to learn the fact, that not everyday we have opportunity to trade.
So please note: This is a personal journal only, but NOT a trading suggestion.
Date: 2021/ 01 /25
===================Analysis=================
From the H4 chart, Gold has complete a 8-wave cycle from 1957 to 1857 as shown in the chart. The next direction is still not comfirmed that either way is possible.
Gold drops from 1875 area to 1839 last Friday but made a quick rebounce back to 1857 this morning which shows a good bullish power to reverse, however, only in the lower timeframe such as H1.
From the daily candle, Gold has turn into bearish which is also comfirmed in last Friday with the pivot point at 1867. Above 1867 the trend is reversed, and there's still $10 to go more.
Before that, I can assume Gold is still in bearish mode and Short would be the main direction.
It's hard to use wave analysis since the trend is not clear.
Resistence: 1862 1867
Support: 1835-1840
=================Possible Situation==========
No.1 Gold touches 1862-1867 and drops back
No.2 Gold goes above 1862 and try to reach 1867 and down
No.3 Gold goes above 1867.
No.4 Gold drops to 1840 and rebounce
No.5 Gold drops below 1835 and next target is 1803.
==================My Trading Plan=================
Buy area: 1835-1840 SL: 1830 TP: 1855-1860
Sell area: 1861-1867 SL: 1870 TP: 1840-1835
Sell stop: 1830, SL 1837 , TP 1805
I was so adicated to trade even sometimes when plan are not available, and in return, it costs me 200k USD to learn the fact, that not everyday we have opportunity to trade.
So please note: This is a personal journal only, but NOT a trading suggestion.
Date: 2021/ 01 /25
===================Analysis=================
From the H4 chart, Gold has complete a 8-wave cycle from 1957 to 1857 as shown in the chart. The next direction is still not comfirmed that either way is possible.
Gold drops from 1875 area to 1839 last Friday but made a quick rebounce back to 1857 this morning which shows a good bullish power to reverse, however, only in the lower timeframe such as H1.
From the daily candle, Gold has turn into bearish which is also comfirmed in last Friday with the pivot point at 1867. Above 1867 the trend is reversed, and there's still $10 to go more.
Before that, I can assume Gold is still in bearish mode and Short would be the main direction.
It's hard to use wave analysis since the trend is not clear.
Resistence: 1862 1867
Support: 1835-1840
=================Possible Situation==========
No.1 Gold touches 1862-1867 and drops back
No.2 Gold goes above 1862 and try to reach 1867 and down
No.3 Gold goes above 1867.
No.4 Gold drops to 1840 and rebounce
No.5 Gold drops below 1835 and next target is 1803.
==================My Trading Plan=================
Buy area: 1835-1840 SL: 1830 TP: 1855-1860
Sell area: 1861-1867 SL: 1870 TP: 1840-1835
Sell stop: 1830, SL 1837 , TP 1805
Trade active:
short opened at 1864 now
Comment:
in profit , protect now
Trade closed: target reached:
I close my profit at 1851 now since I have huge lots.
account growth rate: 65% today.
account growth rate: 65% today.
