Gold 0929 Trading Plan
please note: This is a personal journal only, but NOT a trading suggestion.
Current price: 1740
===================Analysis=================
In my 0928 analysis, I mentioned Gold might probably finish its wave-5 with the target range 1723-1734. It reached 1728.5 the lowest.
I am expecting some corrections happen before further drop, and the rebounce from 1728 is also a confirmation of the start of correction.
Yesterday Gold test 1740 three times and dropped back to 1732, indicating that 1740 is the key resistence level.
A break out above this level, means the correction is confirmed.
=================Possible Situation==========
No.1 Gold goes above 1740, and then retest this level, and rise again
No.2 Gold falls back from 1740 to lower low.
==================My Trading Plan=================
Based on these situation:
The key resistence : 1740, 1755
The key support: 1730
buy plan:
Buy stop : 1742, TP 1747
But limit: buy when gold breaks the resistence and falls back at 1740
Sell plan:
Sell limit: 1755, 1760
sell stop: N'A
Current price: 1740
===================Analysis=================
In my 0928 analysis, I mentioned Gold might probably finish its wave-5 with the target range 1723-1734. It reached 1728.5 the lowest.
I am expecting some corrections happen before further drop, and the rebounce from 1728 is also a confirmation of the start of correction.
Yesterday Gold test 1740 three times and dropped back to 1732, indicating that 1740 is the key resistence level.
A break out above this level, means the correction is confirmed.
=================Possible Situation==========
No.1 Gold goes above 1740, and then retest this level, and rise again
No.2 Gold falls back from 1740 to lower low.
==================My Trading Plan=================
Based on these situation:
The key resistence : 1740, 1755
The key support: 1730
buy plan:
Buy stop : 1742, TP 1747
But limit: buy when gold breaks the resistence and falls back at 1740
Sell plan:
Sell limit: 1755, 1760
sell stop: N'A
ملاحظة
you can see gold already breaks the resistence. I can enter long now and target 1747 or 1755
ملاحظة
تم فتح الصفقة
Long opened as planned at 1741.SL 1737
ملاحظة
I still remain my opinion that Gold has break the descending trendline, this drop to 1737 seems sharp but just a re-test of the break out. So I'm adding another long at 1738 and move my SL to 1735
ملاحظة
but due to the drop, i will also modify my TP from 1755 to 1750 area to be safeأغلقت الصفقة: تم الوصول لوقف الخسارة
hit my sl . wait for another opportunityملاحظة
I made a mistake on my trendline drawing, which caused this loss to me.
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