please note: This is a personal journal only, but NOT a trading suggestion.
Date: 2021/ 09/23
===================Analysis=================
Gold broke the trendline yesterday once but then reversed due to Powell's talk. Thus my assumption of yesterday is still valid.
Today gold retrace a little bit to test 1776, which is just a correction before the big drop.
The estimate target would a range of 1721-1731.
The assumption will become invalid when Gold reachs above 1780.
=================Possible Situation==========
No.1 Gold continue drop to 1760 and then range a little bit.
No.2 Gold drops to 1760 and breaks the support strongly and then test 1740.
No.3 Gold rise up above 1780 and resume bullish trend.
WHY different plan is important? We are not trying to predict the market, but are trying to trade no matter where the market goes.
==================My Trading Plan=================
Based on these situation:
The key resistence : 1783
The key support: 1760
buy plan:
Buy stop : N/A
But limit: N/A
Sell plan:
Sell limit: 1775 -1780 area, SL 1785, TP 1760, 1740
sell stop : 1760, TP 1740
Date: 2021/ 09/23
===================Analysis=================
Gold broke the trendline yesterday once but then reversed due to Powell's talk. Thus my assumption of yesterday is still valid.
Today gold retrace a little bit to test 1776, which is just a correction before the big drop.
The estimate target would a range of 1721-1731.
The assumption will become invalid when Gold reachs above 1780.
=================Possible Situation==========
No.1 Gold continue drop to 1760 and then range a little bit.
No.2 Gold drops to 1760 and breaks the support strongly and then test 1740.
No.3 Gold rise up above 1780 and resume bullish trend.
WHY different plan is important? We are not trying to predict the market, but are trying to trade no matter where the market goes.
==================My Trading Plan=================
Based on these situation:
The key resistence : 1783
The key support: 1760
buy plan:
Buy stop : N/A
But limit: N/A
Sell plan:
Sell limit: 1775 -1780 area, SL 1785, TP 1760, 1740
sell stop : 1760, TP 1740
Trade stängt: målet nått:
I close most my profit at 1748 because I'm gonna sleep
Trade stängt: målet nått:
Gold hit 1740 TP in the early morning.
I will find another entry to short again
I will find another entry to short again
