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: 2020/08/11
No plan, No trading
Entry reason:
Gold droped from 2048 to 2015 this morning as I analyzed yesterday. (You can view the related ideas below)
So it's kinda of confirm that Gold is moving in the A-B-C pattern. I'm not sure if the drop today completes the (a) wave or not, but obviously it finds the support at 2015. (In the chart I am thinking the big A is made up with another 3-wave pattern a-b-c)
There's a possibility that yesterday's high (2048) is already the completion of wave (b), but it's also possible that b is moving as a rectangle or triangle consolidation. I don't know this yet, but since the support seems good at 2015, I am more bias on the conslidation move that wave (b) will take longer time to complete.
In such a consolidation market, we can do scalp within the range.
The chart doesn't change too much compared to yesterday's chart
So here's my plan:
Buy at 2015-2017 , SL 2013. TP 2030, 2040
Short at 2040-2050 area. sl 2053 , TP 2000
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: 2020/08/11
No plan, No trading
Entry reason:
Gold droped from 2048 to 2015 this morning as I analyzed yesterday. (You can view the related ideas below)
So it's kinda of confirm that Gold is moving in the A-B-C pattern. I'm not sure if the drop today completes the (a) wave or not, but obviously it finds the support at 2015. (In the chart I am thinking the big A is made up with another 3-wave pattern a-b-c)
There's a possibility that yesterday's high (2048) is already the completion of wave (b), but it's also possible that b is moving as a rectangle or triangle consolidation. I don't know this yet, but since the support seems good at 2015, I am more bias on the conslidation move that wave (b) will take longer time to complete.
In such a consolidation market, we can do scalp within the range.
The chart doesn't change too much compared to yesterday's chart
So here's my plan:
Buy at 2015-2017 , SL 2013. TP 2030, 2040
Short at 2040-2050 area. sl 2053 , TP 2000
Dagangan aktif
Long opened at 2017 as plannedDagangan ditutup: hentian tercapai
long position closed. Support line already breaks. I would wait to short now.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.