2024/03/06 Gold Trading Plan

Please note: This is a personal journal only, but NOT a trading suggestion.

Current price: 2141

===================Technical Analysis=================

Gold has embarked on a robust bull run after testing the support at 1990, rebounding sharply without experiencing the typical correction. The market is currently in a severe overbought state.

A key resistance level for gold was previously at 2145, which was slightly breached today but quickly fell back following Powell's speech.

Although gold is still in a bullish trend, I will consider a short position based on the resistance level and the need for a correction.

Entry point: near 2145
Target: 2085, 38% Fibonacci retracement
Stop loss: 2180.

P&L: 2.55

=================Possible Situation==========

No.1 Gold continues to rise to a new high above 2145.
No.2 Gold initiates a correction before the next significant movement. I expect the correction A-B-C to be completed in the coming days.

=================My Trading Plan===============

Buy limit: N/A
Sell limit: near 2145

Buy stop: N/A
Sell stop: 2121, 2108, 2000

การซื้อขายยังคงดำเนินอยู่:

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