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: 2020/08/20
No plan, No trading
Entry reason:
Gold drops from 1990 to 1928 area yesterday with OPEC & FMOC news. The break of 1980 confirms the start of wave C.
With a huge drop in a day, (and no more news within this week), Gold will need more momentum to go down.
Thus, I'm thinkinng a consolidation move is highly possible within range 1930 - 1960 for the day
Key support: 1928
Key resistence: 1960 1970
I will be neutral today but still bearish for the large cycle and mainly do scalping these days.
So here's my plan:
Sell : 1958 -- 1970 (by controlling my lot size)
buy : 1928-1935
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: 2020/08/20
No plan, No trading
Entry reason:
Gold drops from 1990 to 1928 area yesterday with OPEC & FMOC news. The break of 1980 confirms the start of wave C.
With a huge drop in a day, (and no more news within this week), Gold will need more momentum to go down.
Thus, I'm thinkinng a consolidation move is highly possible within range 1930 - 1960 for the day
Key support: 1928
Key resistence: 1960 1970
I will be neutral today but still bearish for the large cycle and mainly do scalping these days.
So here's my plan:
Sell : 1958 -- 1970 (by controlling my lot size)
buy : 1928-1935
Trade active:
Long position added as planned. SL 1923
Trade closed: target reached:
I'm already sclap between 1928 to 1940 for 2 rounds and made good profit.
just another quick update here.
Now the gold is making a consolidation triangle from 1928 to 1940.
If, it break up over 1944, Gold will at least test 1955 1960 as next target.
If NOT, I will short from 1940 and TP would be lower low
just another quick update here.
Now the gold is making a consolidation triangle from 1928 to 1940.
If, it break up over 1944, Gold will at least test 1955 1960 as next target.
If NOT, I will short from 1940 and TP would be lower low
Comment:
CURRENT PRICE: 1935
Trade closed: target reached:
II'm out of my buy at 1950
