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. If you want to follow it please control by your own risk. I can't give you advice on risk management and money slot because we have different risk preference and strategy.
Date: 2020/04/30
Entry reason:
I got SL on my last trade.
Gold broke up the previous consolidating range and now reach 1720 and hit my SL 1718.
Here's an assumption:
Gold drops from 1737 to 1688 and forms the wave (1). 1688 to 1720 seems to be the retracement wave (2) of the point. wave 2 could also target 1728. which is the 76.8% position and also near the top trendline.
If the previous wave B (at 1738) is correct, then C (1640) is highly expected.
I would still go short on Gold unless Gold price jumps higher than 1735.
No plan, No trading
Short : 1720 - 1728 SL: 1735
Sell stop : 1710 , 1700 1690
Confidence level: 40% (This trade may still be a loss but the Risk & reward ratio is still good for me)
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To be updated later:
Emotion level for the trade:
Result :
So please note: This is a personal journal only, but NOT a trading suggestion. If you want to follow it please control by your own risk. I can't give you advice on risk management and money slot because we have different risk preference and strategy.
Date: 2020/04/30
Entry reason:
I got SL on my last trade.
Gold broke up the previous consolidating range and now reach 1720 and hit my SL 1718.
Here's an assumption:
Gold drops from 1737 to 1688 and forms the wave (1). 1688 to 1720 seems to be the retracement wave (2) of the point. wave 2 could also target 1728. which is the 76.8% position and also near the top trendline.
If the previous wave B (at 1738) is correct, then C (1640) is highly expected.
I would still go short on Gold unless Gold price jumps higher than 1735.
No plan, No trading
Short : 1720 - 1728 SL: 1735
Sell stop : 1710 , 1700 1690
Confidence level: 40% (This trade may still be a loss but the Risk & reward ratio is still good for me)
----------------------------------------
To be updated later:
Emotion level for the trade:
Result :
Not
To be updated later:Emotion level for the trade: excited
Result : Gold price drops hardly like the plan, which makes me good return on the trade.
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.
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.