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: 2020/12/23
No plan, No trading
------------------
Entry reason:
Gold tested 1860 area yesterday and seems find a valid support here.
From the chart, you can also see 1860 is also the pivot point of the ascending trendline (Green one). if a rebounce happened at this point, there could be a few situation:
No.1 Re-test 1882 resistence line and drop again
No.2 Retest 1882 and break out and go up to 1902 again.
No.3:
If I look into a lower timeframe - M15, 1873 - 1875 is the intra-day pivot point.
There's also a possibility that gold falls again from this point if the bearish power is strong.
So here's my plan:
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: 2020/12/23
No plan, No trading
------------------
Entry reason:
Gold tested 1860 area yesterday and seems find a valid support here.
From the chart, you can also see 1860 is also the pivot point of the ascending trendline (Green one). if a rebounce happened at this point, there could be a few situation:
No.1 Re-test 1882 resistence line and drop again
No.2 Retest 1882 and break out and go up to 1902 again.
No.3:
If I look into a lower timeframe - M15, 1873 - 1875 is the intra-day pivot point.
There's also a possibility that gold falls again from this point if the bearish power is strong.
So here's my plan:
- buy around 1860 -- 1865, TP 1874
- buy stop at 1876, TP 1882
- Sell when a reverse signal appears around 1882.
- buy stop at 1883 , TP 1900
- Sell stop at 1855
