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: 2021/01/13
No plan, No trading
Gold falls hardly from 1958 to 1817, a $141 drop in just 2 days, which make the main trend back to the descending channel.
I'm thinking this fall may not ends at 1817 in a 5-wave possible pattern and another lower low is expecting to happen.
The wave-3 started at 1928 and completed at 1817 with a following a correction time in the range 1830 - 1860.
This correction may take sometime and as long as the gold price not back to 1880+, this assumption will be valid.
The correction support is now at 1838 and it's moving up with time because of its slope. If it breaks the trendline, it will confirm a test at previous low 1817.
And if 1817 not holds, it will be a quick impulsive drop to 1800+ area to finish the wave-5.
So, here's my plan.
Sell at 1860 area, SL 1880 , with little position
Sell stop 1836, TP 1817.
sell stop 1815, TP 1800~ 1805
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: 2021/01/13
No plan, No trading
Gold falls hardly from 1958 to 1817, a $141 drop in just 2 days, which make the main trend back to the descending channel.
I'm thinking this fall may not ends at 1817 in a 5-wave possible pattern and another lower low is expecting to happen.
The wave-3 started at 1928 and completed at 1817 with a following a correction time in the range 1830 - 1860.
This correction may take sometime and as long as the gold price not back to 1880+, this assumption will be valid.
The correction support is now at 1838 and it's moving up with time because of its slope. If it breaks the trendline, it will confirm a test at previous low 1817.
And if 1817 not holds, it will be a quick impulsive drop to 1800+ area to finish the wave-5.
So, here's my plan.
Sell at 1860 area, SL 1880 , with little position
Sell stop 1836, TP 1817.
sell stop 1815, TP 1800~ 1805
Dagangan aktif
short in at 1860 as planned 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.