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.
No plan, No trading
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.
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.
here's my plan:
Buy 1722- 1730, SL 1718, TP 1749. 1763 1788
Buy stop 1745, TP 1763 1788. SL 1737
-----------to be updated later------------------