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: 2020/10/30
No plan, No trading
------------------
Entry reason:
The chart looks bearish to me, but there's no all-the-way down, neither straight up market.
If we check RSI or MACD indicator, there's a possibility that the gold is in oversold zone or and price divergence may happen in the chart.
And If I do wave count + Fib calculation, 1864 is the 2.618 of wave (1) , shown in the chart. So it is possible that Gold may finish the cycle at 1860 + area and start correction a-b-c, which 1884-1890 now becomes the resistence area.
Yesterday I made a bet on the correction wave rebounce, and luckily it happens. It seems the correction pattern valid now and the gold is under the wave (a) of the small cycle and touchs 1877 this moment.
I have taken out of my previsou long from 1860 at 1876 and I think there might be another bump up wave (c) and test the major resistence again. Thus I would like re-enter at the drop (b)
So here's my plan:
Short:
Sell around 1885 - 1890
Long:
Buy around 1870, TP 1884 - 1890. SL1866
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: 2020/10/30
No plan, No trading
------------------
Entry reason:
The chart looks bearish to me, but there's no all-the-way down, neither straight up market.
If we check RSI or MACD indicator, there's a possibility that the gold is in oversold zone or and price divergence may happen in the chart.
And If I do wave count + Fib calculation, 1864 is the 2.618 of wave (1) , shown in the chart. So it is possible that Gold may finish the cycle at 1860 + area and start correction a-b-c, which 1884-1890 now becomes the resistence area.
Yesterday I made a bet on the correction wave rebounce, and luckily it happens. It seems the correction pattern valid now and the gold is under the wave (a) of the small cycle and touchs 1877 this moment.
I have taken out of my previsou long from 1860 at 1876 and I think there might be another bump up wave (c) and test the major resistence again. Thus I would like re-enter at the drop (b)
So here's my plan:
Short:
Sell around 1885 - 1890
Long:
Buy around 1870, TP 1884 - 1890. SL1866
Handel aktiv:
Long in at 1871 now
Handel aktiv:
Long add at 1869 now
Handel aktiv:
I already close my long at 1886 , short add at 1890
