kjwlegend

kjwlegend Updated 

Gold is making ABC pattern and now almost completes B. next target 1612 No Plan, No tradings. Here's my plan: 1566-1570 buy SL : 1550 TP : 1612 Risk reward ratio : 3.1

kjwlegend Updated 

Gold was mad yesterday and I did lost my mind that completely don't know how to trade. It costs $3000 to learn a lesson. And now I could calm down again and sit for an analysis. NO PLAN, NO TRADING. Gold completes another 5-wave and now in the correction of ABC which is made of a small 5-wave too. a few key price here. 1610 - 1620 the resistence...

kjwlegend Updated 

I only have 30% confidence since Gold price is still in downward trend in short period. But it seems a good potential trade with a nic P&L ratio of 2.5 Here's my plan today: Buy at 1635, TP 1648 , 1653, 1656. SL: 1628

kjwlegend Updated 

Follow by our previous analysis, Gold completes A-B-C correction waves and now still looking for direction. Gold breaks out the downtrend channal and hit 1670 (the c4 resistence) and start dropping. As I drew in the chart, price tested the preivous downtrend up channel and then make a fast rebound. The support line 1640, until now at least, is still valid....

kjwlegend Updated 

Yesterday the gold completes the A-B-C correction waves at the end price of 1642, which is a little bit higher than we initial estimate 1635. The C seems little weaker than I expect. watch, the price breaks out the downtrend channel at 1657, so don't be stubborn on short position. Thus, I will be neutral about the future direction until another breakout...

kjwlegend Updated 

watch the breakout out of the uptrend channel. I already opened my position at 1670 and will do more at 1658 if support line breaks. For the rest, please see my previous analysis in the related links below.

kjwlegend Updated 

Gold was swing between 1660 - 1680 yesterday as I expected but didn't touch the previous high 1685. As seen in the chart, it completed a-b-c-d-e and seems finish the correction wave B and I will be waiting for the impulsive C. If the price doesn't break today, Gold will swing for one or two more days to make a double triangle. For my trading plan, short...

kjwlegend Updated 

The previous 5-wave pattern still valid even after the price huge jump to 1702 due to the Saudi Arabia oil impact. In the day time, Gold dropped to 1657 formed new A and thenback to 1685 and then remain in the congestion area, between 1660 - 1685. It looks like forming a triangle to me and now in the way of small (c). For trading ideas, I would do these for...

kjwlegend

my little 2 cents.

kjwlegend Updated 

Please comment if you agree or have different ideas.

kjwlegend

TVC:GOLD Even the Gold still fails falling under 1480 twice but I'm still on bias that next try would make the goal. The Gold completes the wave 5 at the 1555 and now starts the correction ABC. I initially thought B was a quick and short case but it lasts much longer than I expected and became an 'abcde' triangle consolidation. I would expect the wave C and...