Gold 1027 Trading plan
please note: This is a personal journal only, but NOT a trading suggestion.
Current price: 1786
===================Analysis=================
Yesterday Gold had made the correction down to 1782 lowest with a strong momentum.
I was expecting this correction to be completed in 2 days but future is un-predictable.
Due to the strength of the drop, the bullish sustainbility will be chanllenged again. But, as I planned, once Gold re-test the trendline, I'm entering long.
so I will keep the bullish view until the ascending channel is broken.
Only when Gold rise above 1800 again, the bullish trend is resumed. For now, I'm not trying to target 1830 but a more reasonable resistence level 1798 instead.
Key levels:
1810
1798 - my target
1782 - pivot for bearish
So here are a few situations:
=================Possible Situation==========
No.1 Gold ranges between 1785- 1795
No.2 Gold break resistence 1798 and resume bullish to 1810+
No.3 Gold break the bottom TL 1782
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: 1785, SL 1782, TP 1795, 1798, 1806
Sell stop: 1780, SL 1785, TP 1760
sell limit: 1798, SL 1801, TP 1788
Current price: 1786
===================Analysis=================
Yesterday Gold had made the correction down to 1782 lowest with a strong momentum.
I was expecting this correction to be completed in 2 days but future is un-predictable.
Due to the strength of the drop, the bullish sustainbility will be chanllenged again. But, as I planned, once Gold re-test the trendline, I'm entering long.
so I will keep the bullish view until the ascending channel is broken.
Only when Gold rise above 1800 again, the bullish trend is resumed. For now, I'm not trying to target 1830 but a more reasonable resistence level 1798 instead.
Key levels:
1810
1798 - my target
1782 - pivot for bearish
So here are a few situations:
=================Possible Situation==========
No.1 Gold ranges between 1785- 1795
No.2 Gold break resistence 1798 and resume bullish to 1810+
No.3 Gold break the bottom TL 1782
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: 1785, SL 1782, TP 1795, 1798, 1806
Sell stop: 1780, SL 1785, TP 1760
sell limit: 1798, SL 1801, TP 1788
交易進行
long opened at 1784 now as planned交易結束：目標達成
TP 1795 is there. 50% closed. I will close all at 1798
交易結束：目標達成
I decide to close 80% of longs at 1794 now cuz I saw weird drop in last M15交易結束：目標達成
1798 now. closed all交易進行
enter short at 1789 now. with SL 1793. TP 1783註釋
ADD SHORT AT 1791. SL 1794交易結束：達到停損點
short hit SL. crazy rebounce交易進行
OK.RE-SHORT AGAIN AT 1792. found signal. TP 1784交易結束：達到停損點
okay short out again.I made 2 out of plan trades just because I see a strong fall within 15min. but the then V type rebounce just slap on my face.
註釋
lesson learned: don't do too much emotional trade. It will eat your profit
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