Instead of calling Gold analysis, I would use the term of trading journal to record my trades because I may not always have a plan to trade.
So please note: This is a personal journal only, but NOT a trading suggestion.
Date: 2021/ 03 / 04
===================Analysis=================
Yesterday gold quickly touched 1700 support and then had a huge swing range between 1725 - 1708 this morning.
From the chart, Gold is in still bearish trend and a consolidation triangle is formed.
It looks like a corrective wave-4 with a-b-c-d-e pattern. In this case, another leg down is expected to a lower low, very possible to break 1700 and to 1680 area.
I should also be careful that maybe wave-5 already ends or almost ending and then a rebounce could happen easily.
I have 2 ellipses on the chart wich shows the key decision point.
=================Possible Situation==========
No.1. Gold touchs E point, and then drops hardly to a lower low
No.2 Gold breaks above E point, and then tests 1740 area then fall back.
.
==================My Trading Plan=================
Based on these situation:
The key resistence : 1723 1740
The key support: 1700
Sell limit: 1720-1723 , SL 1727, tp 1703, 1685
Sell stop: 1699, TP 1686
Buy when my sell limit hit SL, and price re-test 1720 again
So please note: This is a personal journal only, but NOT a trading suggestion.
Date: 2021/ 03 / 04
===================Analysis=================
Yesterday gold quickly touched 1700 support and then had a huge swing range between 1725 - 1708 this morning.
From the chart, Gold is in still bearish trend and a consolidation triangle is formed.
It looks like a corrective wave-4 with a-b-c-d-e pattern. In this case, another leg down is expected to a lower low, very possible to break 1700 and to 1680 area.
I should also be careful that maybe wave-5 already ends or almost ending and then a rebounce could happen easily.
I have 2 ellipses on the chart wich shows the key decision point.
=================Possible Situation==========
No.1. Gold touchs E point, and then drops hardly to a lower low
No.2 Gold breaks above E point, and then tests 1740 area then fall back.
.
==================My Trading Plan=================
Based on these situation:
The key resistence : 1723 1740
The key support: 1700
Sell limit: 1720-1723 , SL 1727, tp 1703, 1685
Sell stop: 1699, TP 1686
Buy when my sell limit hit SL, and price re-test 1720 again
Dagangan aktif
short opened at 1720 as plannedNota
I will lock half my profit at 1709 and let the rest goDagangan ditutup: sasaran tercapai
partial closed at 1709 now. maybe re-enter again at 1714Dagangan aktif
I re-enter at 1717 againDagangan aktif
short add at 1721Nota
This pin bar is kind of a reversal signal. I will add short if the U.S news is also negative to gold
Dagangan aktif
another short add at 1717Dagangan aktif
it's in the bottom edge now.Dagangan ditutup: sasaran tercapai
I decide to close 70% of my short now at 1700. 1714 1717 1720 closed 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.