Instead of calling Gold analysis, I would use the term of trading journal to record my trades because I may not always have a plan to trade.
I was so adicated to trade even sometimes when plan are not available, and in return, it costs me 200k USD to learn the fact, that not everyday we have opportunity to trade.
So please note: This is a personal journal only, but NOT a trading suggestion.
Date: 2021/ 02 / 18
===================Analysis=================
We saw Gold broke the key support level at 1810 and test a lower low 1770 area in the last few days.
It confirms the bearish trend in my last analysis and it seems finding the support zone at previous low 1760+ area.
From the Chart analysis, we can see an AB=CD pattern is formmed in H4 period so a rebounce is highly possible before further drop.
1790 and 1810 zone has become the key resistence zone in current situation.
=================Possible Situation==========
No.1. Gold rebounce from 1770 area again and test 1810 one more time.
No.2 Gold finds support at 1770 and ranging between 1770 and 1790 for a few days and then drop
No.3 Gold bounce above 1810 and bring bulls back to the blue trendline
No.4. Gold drops hardly with strong bearish power to a lower low and the 1770 area will provide very weak support.
==================My Trading Plan=================
Based on these situation:
The key resistence : 1790 , 1810
The key support: 1770 1760
buy limit: 1770 -1775 area, TP 1790, SL 1765
buy limit 1760 area, SL 1755, TP 1785
Sell limit at : 1790 , sl 1793, TP 1772. low R&R , so I would try with little budget
Sell limit at : 1810, SL 1815, TP 1772, High R&R, so I would try with bigger position
buy stop at 1800, TP 1810 area.
I was so adicated to trade even sometimes when plan are not available, and in return, it costs me 200k USD to learn the fact, that not everyday we have opportunity to trade.
So please note: This is a personal journal only, but NOT a trading suggestion.
Date: 2021/ 02 / 18
===================Analysis=================
We saw Gold broke the key support level at 1810 and test a lower low 1770 area in the last few days.
It confirms the bearish trend in my last analysis and it seems finding the support zone at previous low 1760+ area.
From the Chart analysis, we can see an AB=CD pattern is formmed in H4 period so a rebounce is highly possible before further drop.
1790 and 1810 zone has become the key resistence zone in current situation.
=================Possible Situation==========
No.1. Gold rebounce from 1770 area again and test 1810 one more time.
No.2 Gold finds support at 1770 and ranging between 1770 and 1790 for a few days and then drop
No.3 Gold bounce above 1810 and bring bulls back to the blue trendline
No.4. Gold drops hardly with strong bearish power to a lower low and the 1770 area will provide very weak support.
==================My Trading Plan=================
Based on these situation:
The key resistence : 1790 , 1810
The key support: 1770 1760
buy limit: 1770 -1775 area, TP 1790, SL 1765
buy limit 1760 area, SL 1755, TP 1785
Sell limit at : 1790 , sl 1793, TP 1772. low R&R , so I would try with little budget
Sell limit at : 1810, SL 1815, TP 1772, High R&R, so I would try with bigger position
buy stop at 1800, TP 1810 area.
