Let's get back to planning before the market is open. The structure of the "Gold" market right now is in a downtrend as it has successfully broken every support on its way down. The one thing that gold hasn't done yet it retracing back up to clear off sell volumes/sellers. So thing now is not being bias looking to either buy or sell, it's more important now to be able to see how the chart next week is moving to determine whether the chart is accumulating buyers or sellers more. If the charts is constantly clearing off buyers and accumulating sellers, it means that it is going back up. You do know that 90% of retail traders loses money, so if more people are looking to sell according to the trap the market has laid out, the chart will then break to the upside.
The buy and sell limit that I've marked in the picture comes from contemplating the area where the market might clear volumes from either side before going up or down. So manage your own risk and trade with discipline. Charts may not always go according to our plan or analysis because there are a whole lot more external factors going on out there that can also drive the Gold price higher or lower. That's why good money management always saves the day because there's no strategy more powerful than managing your capital.
Don't be confused though, because I don't use stop loss for my trading. I'll cut loss when I see that the chart is still going further, but I never use stop loss unless there's no other choice because most of the time the chart will hit that stop loss before going in the direction. So I'll only cut loss when I see that I'm really losing and don't get me wrong, I wouldn't let it drag me so far before I start cutting losses.
That's all for today, leave any questions down below and I'll be back to answer them for you guys.