CFDs on Gold (US$ / OZ)Updated Gold 1221 Trading Plan
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: 2020/12/ 21
No plan, No trading
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Entry reason:
Gold has made a strong rebounce from 1760+ to the current price 1900. It's approaching 1909 strong resistence, the descending trend line.
Gold is still in the bullish trend but a potential reverse could happen at 1910 area, regardless of the current economic or COVID situation. However, a strong break out of the channel will confirm a real bull to 2000+ level very soon.
So here's my plan:
short at 1910 when a reversal signal appears. (cross-bar or bearish candle in H2 period), SL $10 , TP 1890 1880
buy when price break out 1910 and retest 1910, TP , 1930
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: 2020/12/ 21
No plan, No trading
------------------
Entry reason:
Gold has made a strong rebounce from 1760+ to the current price 1900. It's approaching 1909 strong resistence, the descending trend line.
Gold is still in the bullish trend but a potential reverse could happen at 1910 area, regardless of the current economic or COVID situation. However, a strong break out of the channel will confirm a real bull to 2000+ level very soon.
So here's my plan:
short at 1910 when a reversal signal appears. (cross-bar or bearish candle in H2 period), SL $10 , TP 1890 1880
buy when price break out 1910 and retest 1910, TP , 1930
Trade active
re-enter short at 1880 now
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