CFDs on Gold (US$ / OZ)Updated Gold 0813 Trading Plan
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: 2020/08/13
No plan, No trading
Entry reason:
I'm thinking the previous drop is the wave 3 of the big A or C. (I can't count the wave here btw), and the rebounce is the start of wave 4, under this assumption:
1) There will be a ranging market for a while
2) There will be a lower low than 1864.
3) The ranging area may from (1870 to 1945) OR from (1870 to 1970)
In the short trading period H1 or M15, I think gold is forming a consolidating triangle.
Break up to the eclipse area, will giving gold a shor time strong bull to 1970.
If it finds resistence 1937, it will retest the lower support 1910
So here's my plan:
Buy stop 1939, TP 1950 1970
Sell at 1938, SL 1940, tp 1910
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: 2020/08/13
No plan, No trading
Entry reason:
I'm thinking the previous drop is the wave 3 of the big A or C. (I can't count the wave here btw), and the rebounce is the start of wave 4, under this assumption:
1) There will be a ranging market for a while
2) There will be a lower low than 1864.
3) The ranging area may from (1870 to 1945) OR from (1870 to 1970)
In the short trading period H1 or M15, I think gold is forming a consolidating triangle.
Break up to the eclipse area, will giving gold a shor time strong bull to 1970.
If it finds resistence 1937, it will retest the lower support 1910
So here's my plan:
Buy stop 1939, TP 1950 1970
Sell at 1938, SL 1940, tp 1910
Trade active
buy stop order in. but I don't have too much confidence on it. I will manually close if gold reverse.
Trade closed: target reached
I close the buy order at 1949 now.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.