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: 2020/05/25
No plan, No trading
------------Updated analysis ------------
There's not much updates for today's plan. It's pretty much the same as yesterday. Gold price drops to 1722 yesterday which gives me the Long opportunity as planned. Today I will monitor if it could breaks the top red resistence trend line. If it does, I will buy more and target 1763 at least.
here's my plan:
Buy stop 1740, TP 1763 1788. SL 1737
-------------Previous analysis ---------------
Entry reason:
Gold has been doing a-b-c-d-e consolidating waves of wave (iv) for almost 3 weeks and now it's in the move of wave (v), which a new high is highly expected in next 5-10 days.
Bullish trend is confirmed so the trade is easy because the direction is clear. I would do buy only until the wave v is completed.
Based on the current move, wave (v) could be another 5-wave pattern and currently wave (2) of v is in process.
The bars are still in the upward channel and above the trend support line (the green line).
I would do buy in in the area with small SL.
-----------to be updated later------------------
emotion level:
Result:
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: 2020/05/25
No plan, No trading
------------Updated analysis ------------
There's not much updates for today's plan. It's pretty much the same as yesterday. Gold price drops to 1722 yesterday which gives me the Long opportunity as planned. Today I will monitor if it could breaks the top red resistence trend line. If it does, I will buy more and target 1763 at least.
here's my plan:
Buy stop 1740, TP 1763 1788. SL 1737
-------------Previous analysis ---------------
Entry reason:
Gold has been doing a-b-c-d-e consolidating waves of wave (iv) for almost 3 weeks and now it's in the move of wave (v), which a new high is highly expected in next 5-10 days.
Bullish trend is confirmed so the trade is easy because the direction is clear. I would do buy only until the wave v is completed.
Based on the current move, wave (v) could be another 5-wave pattern and currently wave (2) of v is in process.
The bars are still in the upward channel and above the trend support line (the green line).
I would do buy in in the area with small SL.
-----------to be updated later------------------
emotion level:
Result:
Trade closed manually:
Gold price break the key level 1718. I decide to exit the long for now with small loss.
It's hard to predict buy or sell, so I will just watch the market
It's hard to predict buy or sell, so I will just watch the market
