This is the latest version of my KCGI trading manual. Well, it seems my previous bearish analysis failed due to the FOMC. Although it's a bit frustrating, it's not a big deal.
Gold dropped to $4,235 after FOMC, but buyers pushed it back above $4,300. Right now, Gold is around $4,328.
So here comes the key point: $4,300 will be my latest focus.I’m bullish above it, but I’m not buying $4,328. Because the next real test is $4,360.
So what follows is my actual trading plan.
I’m wait for a 4H close above $4,360.
If Gold breaks $4,360 and then retests $4,350–$4,360 successfully:
Entry: $4,350–$4,360
TP1: $4,400
TP2: $4,440
Initial stop: $4,295
If I enter and price pulls back, I won't immediately panic.
My planned add-on zone is $4,300–$4,310, but only if this area holds on the 4H chart.
If $4,300 also fails:
No more adding.
Final stop: $4,235.
That's the important difference from my previous trade: I'm defining the maximum loss before adding to the position.
I hope this time it will be successful. The risk-reward ratio of the last trade was so good that I couldn't resist, even though it caused me to lose a lot of money on the xau800x leveraged CFD on Bitget.
But I won't make the same mistake again this time. $4,360 will be my bullish confirmation line; I will wait and not chase until it is broken.
Gold dropped to $4,235 after FOMC, but buyers pushed it back above $4,300. Right now, Gold is around $4,328.
So here comes the key point: $4,300 will be my latest focus.I’m bullish above it, but I’m not buying $4,328. Because the next real test is $4,360.
So what follows is my actual trading plan.
I’m wait for a 4H close above $4,360.
If Gold breaks $4,360 and then retests $4,350–$4,360 successfully:
Entry: $4,350–$4,360
TP1: $4,400
TP2: $4,440
Initial stop: $4,295
If I enter and price pulls back, I won't immediately panic.
My planned add-on zone is $4,300–$4,310, but only if this area holds on the 4H chart.
If $4,300 also fails:
No more adding.
Final stop: $4,235.
That's the important difference from my previous trade: I'm defining the maximum loss before adding to the position.
I hope this time it will be successful. The risk-reward ratio of the last trade was so good that I couldn't resist, even though it caused me to lose a lot of money on the xau800x leveraged CFD on Bitget.
But I won't make the same mistake again this time. $4,360 will be my bullish confirmation line; I will wait and not chase until it is broken.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.