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: 2020/11/02
No plan, No trading
Gold has complete the 5-wave cycle at 1860 area and also done with the a-b-c correction wave on last Friday at 1890.
I have made nice profit with these 2 catches.
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Entry reason:
After a typical 8-wave cycle complets, the market will be ranging for a while before determing the next direction. There's a large possibility that it will follow the previous trend which means goes a lower low.
BUT, just a reminder here, the U.S election day is coming next day and the market will be quite violate and anything can happen here.
The key resistence : 1890
The key support: 1860
Technically, I will still do short around 1890 with SL $5.
I wou;d close all the open orders no matter in profit or loss before tomorrow, to avoid unreasonable movement.
So here's my plan:
Short:
Sell around 1885 - 1890, TP 1875 , 1860
Long:
Buy stop at 1893
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: 2020/11/02
No plan, No trading
Gold has complete the 5-wave cycle at 1860 area and also done with the a-b-c correction wave on last Friday at 1890.
I have made nice profit with these 2 catches.
------------------
Entry reason:
After a typical 8-wave cycle complets, the market will be ranging for a while before determing the next direction. There's a large possibility that it will follow the previous trend which means goes a lower low.
BUT, just a reminder here, the U.S election day is coming next day and the market will be quite violate and anything can happen here.
The key resistence : 1890
The key support: 1860
Technically, I will still do short around 1890 with SL $5.
I wou;d close all the open orders no matter in profit or loss before tomorrow, to avoid unreasonable movement.
So here's my plan:
Short:
Sell around 1885 - 1890, TP 1875 , 1860
Long:
Buy stop at 1893
Trade active
Short in at 1890 as plannedTrade closed: stop reached
Hit my SL for this trade
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.