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: 2020/06/09
No plan, No trading
Today's plan is exact same as yesterday. Nothing changed. Gold has reached my sell range. I opened my short already at 1702 . SL is 1707
Entry reason:
Gold has broken the key trend turning point (1688) last Friday due to the unexpected and insane increase on the U.S Non-farm Payroll statistics and drop on the unemployee rate compared to April.
It's confirmed the wave analysis that gold is in the big correction wave C and the final target could be even 1640 - 1650.
100% of A = 1671 (assume starts at 1763(
168.1% of A = 1653
From the chart, the resistence and bearish trendline is so easy to spot, which makes the trading plan simple and easy too.
So here's my plan:
Sell in 1690-1705 , TP 1670 1660 1650
Confidence level: 75%
Risk reward ratio : 3.5+
Gold may find the support at 1670 again and start ranging form 1670 - 1700 for a while. I don't know that, but if the support is valid for the 1st time retouch, I will do a small buy for scalping.
It's an anti-trend trade with low confidence, so my position will be 3X smaller than my short position.
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: 2020/06/09
No plan, No trading
Today's plan is exact same as yesterday. Nothing changed. Gold has reached my sell range. I opened my short already at 1702 . SL is 1707
Entry reason:
Gold has broken the key trend turning point (1688) last Friday due to the unexpected and insane increase on the U.S Non-farm Payroll statistics and drop on the unemployee rate compared to April.
It's confirmed the wave analysis that gold is in the big correction wave C and the final target could be even 1640 - 1650.
100% of A = 1671 (assume starts at 1763(
168.1% of A = 1653
From the chart, the resistence and bearish trendline is so easy to spot, which makes the trading plan simple and easy too.
So here's my plan:
Sell in 1690-1705 , TP 1670 1660 1650
Confidence level: 75%
Risk reward ratio : 3.5+
Gold may find the support at 1670 again and start ranging form 1670 - 1700 for a while. I don't know that, but if the support is valid for the 1st time retouch, I will do a small buy for scalping.
It's an anti-trend trade with low confidence, so my position will be 3X smaller than my short position.
Dagangan ditutup: hentian tercapai
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.