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: 2020/08/21
No plan, No trading
Gold was super violate on last Friday from range 1913 to 1945. Luckily I closed my short at 1915 when I saw the pin bar reversed.
Entry reason:
From the Friday's move, Gold didn't go straight downside but shows a power of bullish reverse.(watch the TL break as shown in the chart)
I start to think it's an end of the small 5-waves pattern and Gold started the a-b-c correction, of which the (a) completed on last Friday at 1943.
I still believe Gold is in the Big bearish C wave but a small correction (a)-(b)-(c) is happening right now, If so, another pump up may happen and test the previous high 1945 at least or 1955-1960.
Thus I would be netural about the trend today but still short at higher price.
Key support: 1922-1925
Key resistence: 1945 -1955
So here's my plan:
I would buy from : 1922-1930 area with SL 1920. TP 1945, 1955
Sell from: 1950 -1960, SL 1965, TP 1910 1900.
Under my assumption, Short would have more potential and possibility to win. So I would use small slot in buy or do buy with quick scalping techniques for short term trade.
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: 2020/08/21
No plan, No trading
Gold was super violate on last Friday from range 1913 to 1945. Luckily I closed my short at 1915 when I saw the pin bar reversed.
Entry reason:
From the Friday's move, Gold didn't go straight downside but shows a power of bullish reverse.(watch the TL break as shown in the chart)
I start to think it's an end of the small 5-waves pattern and Gold started the a-b-c correction, of which the (a) completed on last Friday at 1943.
I still believe Gold is in the Big bearish C wave but a small correction (a)-(b)-(c) is happening right now, If so, another pump up may happen and test the previous high 1945 at least or 1955-1960.
Thus I would be netural about the trend today but still short at higher price.
Key support: 1922-1925
Key resistence: 1945 -1955
So here's my plan:
I would buy from : 1922-1930 area with SL 1920. TP 1945, 1955
Sell from: 1950 -1960, SL 1965, TP 1910 1900.
Under my assumption, Short would have more potential and possibility to win. So I would use small slot in buy or do buy with quick scalping techniques for short term trade.
Transaction en cours:
i have buy at 1931
Trade fermée: cible de profit atteinte:
my 1st TP 1945 reached. Close 50% of my position now
Trade fermée: ordre d’arrêt atteint:
I'm closing all my long at 1948 now.
I will re-entry around 1942 for another buy, and out at 1948 for quick scalping.
later I will enter short for a test
I will re-entry around 1942 for another buy, and out at 1948 for quick scalping.
later I will enter short for a test
Trade fermée: cible de profit atteinte:
I'm closing all my long at 1948 now.
I will re-entry around 1942 for another buy, and out at 1948 for quick scalping.
later I will enter short for a test
I will re-entry around 1942 for another buy, and out at 1948 for quick scalping.
later I will enter short for a test
Transaction en cours:
I'm adding my short at 1950 with very light slot now
Transaction en cours:
I'm adding short as planned
Commentaire:
3 shorts from 1950 - 1960. All in profit now
Trade fermée: cible de profit atteinte:
short close 40% at 1945 now. re-enter when price touch 1955
Commentaire:
I'm still waiting chance to short again. Based on the current situation, I probably will enter around 1950
Transaction en cours:
I entered long at 1940 , with SL at 1937, TP 1950
Trade fermée: ordre d’arrêt atteint:
oh shit. I should folllow the trend. Long just hit SL. wait more chance now
