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: 2020/09/18
No plan, No trading
------------------
Entry reason:
Gold is in the end of correction wave B (as a form of consolidation wave a-b-c-d-e ). It re-test the upper trendline again. The circled area will be the best entry to short again with small SL.
The current wedging point is 1948, which is the preivous support and now turns into support. Gold is still in the big triangle range and if we follow the 4-hour trend the next target would be 1925, which is the bottom trendline.
As long as gold not break above 1948, it will have very high chance to test at least 1925. I'm still seeing gold will break the support and test a lower low.
Gold drops below 1910 will confirm the start of big wave C.
So here's my plan:
Sell from 1945- 1950 . SL 1955, TP 1925.
sell stop 1920 , TP 1910
sell stop 1905, TP 1865
No buy at this moment, if gold price touches 1925 and show the signal of rebounce, I may enter long again.
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: 2020/09/18
No plan, No trading
------------------
Entry reason:
Gold is in the end of correction wave B (as a form of consolidation wave a-b-c-d-e ). It re-test the upper trendline again. The circled area will be the best entry to short again with small SL.
The current wedging point is 1948, which is the preivous support and now turns into support. Gold is still in the big triangle range and if we follow the 4-hour trend the next target would be 1925, which is the bottom trendline.
As long as gold not break above 1948, it will have very high chance to test at least 1925. I'm still seeing gold will break the support and test a lower low.
Gold drops below 1910 will confirm the start of big wave C.
So here's my plan:
Sell from 1945- 1950 . SL 1955, TP 1925.
sell stop 1920 , TP 1910
sell stop 1905, TP 1865
No buy at this moment, if gold price touches 1925 and show the signal of rebounce, I may enter long again.
Trade active:
I close my 1950 short at 1930 area now.
Trade closed: target reached:
I close my 1950 short at 1930 area now.
