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: 2020/07/02
No plan, No trading
Entry reason:
Today gold made a drop to 1757 then a quick rebounce to the current price 1779 now. That drop will have some impact on the bullish liquity so the buyers need more equity to push Gold to 1800+ or higher. The US unemployee rate stats also has negative impact on Gold.
Look from the H2 chart cycle, I am thinking gold completed the 5-wave at 1788 now and starts the A-B-C correction.
A: 1788 - 1757
B: 1757 - 1780
C: ?
This assumption is approved yet because usually wave-3 should be longer than wave-1. However, the pattern looks so reasonable so I would give it a try.
This pattern will become invalid if Gold rise to 1788 +
So here's my plan:
Short at 1778 - 1782 , SL 1788. TP-1750
Confidence level: 35% ( Add short in such as trong bull market will have low chance to win. so confidence level is quite low)
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: 2020/07/02
No plan, No trading
Entry reason:
Today gold made a drop to 1757 then a quick rebounce to the current price 1779 now. That drop will have some impact on the bullish liquity so the buyers need more equity to push Gold to 1800+ or higher. The US unemployee rate stats also has negative impact on Gold.
Look from the H2 chart cycle, I am thinking gold completed the 5-wave at 1788 now and starts the A-B-C correction.
A: 1788 - 1757
B: 1757 - 1780
C: ?
This assumption is approved yet because usually wave-3 should be longer than wave-1. However, the pattern looks so reasonable so I would give it a try.
This pattern will become invalid if Gold rise to 1788 +
So here's my plan:
Short at 1778 - 1782 , SL 1788. TP-1750
Confidence level: 35% ( Add short in such as trong bull market will have low chance to win. so confidence level is quite low)
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.