please note: This is a personal journal only, but NOT a trading suggestion.
Current price: 1787
===================Analysis=================
In my previous analysis, I mentioned Gold bearish may start by the pressure of descending trendline. It dropped from 1790 to 1773 lowest yesterday, which was close to my 1770 TP.
It rebounced a little bit and now we should watch whether the trendline still having pressure on the rise.
The current pivot is: 1782
Gold is still in the correction but all indicators (atr/ volume / boll / etc.) show another impulsive wave is coming soon.
Of course we are not 100% sure where it goes, but Gold is still in the bearish channel, I am more bias on shorting based on the current situation.
The key support now is: 1772
Breaking this support will cause another quick dip to 1760 area.
So here are a few scenarios:
=================Possible Situation==========
No.1 Gold breaks above 1783, it means Gold will continue move in a big conslidation range between 1772 - 1794
No.2 Gold rejected at 1782 area and drop again. It means the bearish still dominates the market, we should expect a lower low with this scenario
P.S:
I'm NOT trying to predict the market, but just to find out the most cost-efficient plan to trade.
=================My Trading Plan===============
Buy limit: N/A. I will see if anohter reversal signal appears around 1772
Sell limit: 1782 , SL 1786, TP 1772, 1760
Buy stop: n/a
sell stop: 1770, TP 1760, sl 1775
Current price: 1787
===================Analysis=================
In my previous analysis, I mentioned Gold bearish may start by the pressure of descending trendline. It dropped from 1790 to 1773 lowest yesterday, which was close to my 1770 TP.
It rebounced a little bit and now we should watch whether the trendline still having pressure on the rise.
The current pivot is: 1782
Gold is still in the correction but all indicators (atr/ volume / boll / etc.) show another impulsive wave is coming soon.
Of course we are not 100% sure where it goes, but Gold is still in the bearish channel, I am more bias on shorting based on the current situation.
The key support now is: 1772
Breaking this support will cause another quick dip to 1760 area.
So here are a few scenarios:
=================Possible Situation==========
No.1 Gold breaks above 1783, it means Gold will continue move in a big conslidation range between 1772 - 1794
No.2 Gold rejected at 1782 area and drop again. It means the bearish still dominates the market, we should expect a lower low with this scenario
P.S:
I'm NOT trying to predict the market, but just to find out the most cost-efficient plan to trade.
=================My Trading Plan===============
Buy limit: N/A. I will see if anohter reversal signal appears around 1772
Sell limit: 1782 , SL 1786, TP 1772, 1760
Buy stop: n/a
sell stop: 1770, TP 1760, sl 1775
İşlem aktif
sell opend as planedİşlem kapandı: durdurma seviyesi
sell closed for now. bull are quite strong
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.