Gold 0812 Trading Plan
ที่อัปเดต:
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: 2020/08/12
No plan, No trading
Entry reason:
Gold made an insane drop from 2048 to 1864 ($180) in just one day and found its strong support at 1864 (The purple TL) and start another crazy rebounce to 1945.
The violation of the market is super strong now so we need to be careful with the position opened.
I'm thinking the previous drop is the wave 3 of the big A or C. (I can't count the wave here btw), and the rebounce is the start of wave 4, under this assumption:
1) There will be a ranging market for a while
2) There will be a lower low than 1864.
3) The ranging area may from (1870 to 1945) OR from (1870 to 1970)
BUT, it may also be the end of wave C, and the rebounce is the start of a new cycle, under this assumption:
1) There will be no lower low.
2) There will be another correction later coming to test the previous support 1864.
3) It's going to test the 0.618 (1970 area) of this strong drop
In the short trading period H1 or M15, you will find gold is making another consolidating triangle from 1928 to 1945. Any break to either side will trigger another move to the high resistence 1969 or low support 1900 area.
So here's my plan:
buy stop 1946, TP 1969, SL 1940
buy limit at 1928, SL 1924, TP 1943 1969.
sell stop: 1924, TP 1907, sl 1929
Sell limit 1970
I DON'T SET UP Sell limit 1945 yet, because this price has been test twice. I may mannually enter sell if it find resistence again.
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: 2020/08/12
No plan, No trading
Entry reason:
Gold made an insane drop from 2048 to 1864 ($180) in just one day and found its strong support at 1864 (The purple TL) and start another crazy rebounce to 1945.
The violation of the market is super strong now so we need to be careful with the position opened.
I'm thinking the previous drop is the wave 3 of the big A or C. (I can't count the wave here btw), and the rebounce is the start of wave 4, under this assumption:
1) There will be a ranging market for a while
2) There will be a lower low than 1864.
3) The ranging area may from (1870 to 1945) OR from (1870 to 1970)
BUT, it may also be the end of wave C, and the rebounce is the start of a new cycle, under this assumption:
1) There will be no lower low.
2) There will be another correction later coming to test the previous support 1864.
3) It's going to test the 0.618 (1970 area) of this strong drop
In the short trading period H1 or M15, you will find gold is making another consolidating triangle from 1928 to 1945. Any break to either side will trigger another move to the high resistence 1969 or low support 1900 area.
So here's my plan:
buy stop 1946, TP 1969, SL 1940
buy limit at 1928, SL 1924, TP 1943 1969.
sell stop: 1924, TP 1907, sl 1929
Sell limit 1970
I DON'T SET UP Sell limit 1945 yet, because this price has been test twice. I may mannually enter sell if it find resistence again.
การซื้อขายยังคงดำเนินอยู่
long opened at 1940, TP 1970SL planned 1935
ปิดการเทรด: ถึงเป้าหมายการตัดขาดทุน
it's back to the triangle again. I hit my sl. wait for the next chance.การซื้อขายยังคงดำเนินอยู่
I entered long again at 1937 with SL at 1931. TP 1970.การซื้อขายยังคงดำเนินอยู่
Gold is moving as assumption No.1 as shown in the chart.
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