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/ 07
No plan, No trading
------------------
Entry reason:
Gold was breaking the consolidation range, and now it's retesting the previos channel at 1895 this moment. This early morning it touches 1873 the lowest point. It's good to see a correction wave of the previous drop so that the bears will have more time to accumulate power to test a new lower low.
1873 was near our previous target 1850, and after this correction wave, I will expect another down in later future.
So here's my plan:
Short:
Sell limit 1895 - 1905, TP 1873
Sell stop 1870, TP 1850
Long:
Maybe buy at 1873 again.
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/ 07
No plan, No trading
------------------
Entry reason:
Gold was breaking the consolidation range, and now it's retesting the previos channel at 1895 this moment. This early morning it touches 1873 the lowest point. It's good to see a correction wave of the previous drop so that the bears will have more time to accumulate power to test a new lower low.
1873 was near our previous target 1850, and after this correction wave, I will expect another down in later future.
So here's my plan:
Short:
Sell limit 1895 - 1905, TP 1873
Sell stop 1870, TP 1850
Long:
Maybe buy at 1873 again.
Trade active
1st short in now at 1897Trade closed: target reached
profit taken for swing trade.
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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.