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. Please control your own risk if you want to follow, we may have different risk preference and position management strategy.
Date: 2020/08/13
No plan, No trading
Entry reason:
I'm thinking the previous drop is the wave 3 of the big A or C. (I can't count the wave here btw), and the rebounce is the start of wave 4, under this assumption:
1) There will be a ranging market for a while
2) There will be a lower low than 1864.
3) The ranging area may from (1870 to 1945) OR from (1870 to 1970)
In the short trading period H1 or M15, I think gold is forming a consolidating triangle.
Break up to the eclipse area, will giving gold a shor time strong bull to 1970.
If it finds resistence 1937, it will retest the lower support 1910
So here's my plan:
Buy stop 1939, TP 1950 1970
Sell at 1938, SL 1940, tp 1910