CFDs on Gold (US$ / OZ)Updated Gold 0903 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: 2020/09/02
No plan, No trading
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Entry reason:
Yesterday I posted an idea :
In a bearish view:
I'm still holding my original opinion that the Big C is not completed yet, but I don't know when it will happen. We can only confirm it once the Gold breaks the pink TL.
This drop gives me another high point to make a top TL, from which I'm thinking gold is makeing the big consolidation wave in a big range to finnally form the wave B. 1990 could be the recent high point that will not be exceeded for a long time.
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Gold is now near the bottom pink trendline, and a rebounce could happen to complete the final consolidation move (e) before the big drop.
Of course there's possibile that gold could directly go down, I would use sell stop to catch this opportunity.
Key support: 1933
Key resistence: 1955 1975
So here's my plan:
Buy from 1933-1936, SL : 1930, TP 1955 1975
Sell stop: 1930, TP 1865
Sell limit : 1970-1980 , SL 1985, TP 1940, 1900 , 1865
I'm more bias on short direction. So I may ignore the buy opportunity or just use small slot to verify my idea.
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: 2020/09/02
No plan, No trading
------------------
Entry reason:
Yesterday I posted an idea :
In a bearish view:
I'm still holding my original opinion that the Big C is not completed yet, but I don't know when it will happen. We can only confirm it once the Gold breaks the pink TL.
This drop gives me another high point to make a top TL, from which I'm thinking gold is makeing the big consolidation wave in a big range to finnally form the wave B. 1990 could be the recent high point that will not be exceeded for a long time.
==================
Gold is now near the bottom pink trendline, and a rebounce could happen to complete the final consolidation move (e) before the big drop.
Of course there's possibile that gold could directly go down, I would use sell stop to catch this opportunity.
Key support: 1933
Key resistence: 1955 1975
So here's my plan:
Buy from 1933-1936, SL : 1930, TP 1955 1975
Sell stop: 1930, TP 1865
Sell limit : 1970-1980 , SL 1985, TP 1940, 1900 , 1865
I'm more bias on short direction. So I may ignore the buy opportunity or just use small slot to verify my idea.
Trade active
Long opened at 1933 nowTrade active
Long hit SLI'm opening short 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.