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: 2020/10/14
We have made a nice profit in the last short plan.
No plan, No trading
------------------
Entry reason:
Gold made the drop to 1880 yesterday and start a nice rebounce at the buying point which explained in the related analysis.
Now the Gold reaches a tricky price at 1900.
As you can see, even gold breaks out the descending trendline 2 days ago, but it falls back to the channel again and now it's re-test the red trend line again.
For intra-day traders, the trend for the day is still bullish at this moment, and it could either break up or down at this moment.
I don't recommend trading around the 1900 range unless you are a scalping trader.
If we follow the previous day trend, short at higher price would be the major plan for me. 1904 - 1908 ( 50%, or 61.8% of fib ) would be a nice place to place my short orders.
For buying, maybe 1880 area will be test again and that's my buying point .
So here's my plan:
Short:
Sell limit 1904-1908 , SL 1915, TP 1890, 1880
Short instant in if i see reverse signal at 1900
Long:
buy around 1880 , SL 1875, TP 1890, 1895.
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: 2020/10/14
We have made a nice profit in the last short plan.
No plan, No trading
------------------
Entry reason:
Gold made the drop to 1880 yesterday and start a nice rebounce at the buying point which explained in the related analysis.
Now the Gold reaches a tricky price at 1900.
As you can see, even gold breaks out the descending trendline 2 days ago, but it falls back to the channel again and now it's re-test the red trend line again.
For intra-day traders, the trend for the day is still bullish at this moment, and it could either break up or down at this moment.
I don't recommend trading around the 1900 range unless you are a scalping trader.
If we follow the previous day trend, short at higher price would be the major plan for me. 1904 - 1908 ( 50%, or 61.8% of fib ) would be a nice place to place my short orders.
For buying, maybe 1880 area will be test again and that's my buying point .
So here's my plan:
Short:
Sell limit 1904-1908 , SL 1915, TP 1890, 1880
Short instant in if i see reverse signal at 1900
Long:
buy around 1880 , SL 1875, TP 1890, 1895.
Trade active
sell in at 1908.5 nowTrade closed: target reached
close now at 1895
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.