14 May Gold 2023 Week 20 Trading Plan

#Fin­twit #XAUUSD #GOLD #Mar­ket­Pro­file #Order­flow #Trad­ing­Plan

This is my week­ly out­look on GOLD. The lev­els that I will be look­ing at with a high­er prob­a­bilis­tic chance the mar­ket will start react­ing. Dur­ing the ses­sion I then wait for the mar­ket to hit those lev­els and either con­firm or reject my bias through price action con­fir­ma­tion and order flow. I hope that makes sense. If not, get in touch with me. 

Month­ly — Bullish

• Closed above pre­vi­ous struc­ture high clos­ing as an Invert­ed Hammer
• Price made a HH and took out Supply
• Con­jec­ture: Invert­ed Ham­mer indi­cates pos­si­ble sell­ers still being around although a con­tin­u­a­tion is more prob­a­ble. Although hav­ing made a HH tak­ing out Sup­ply could see sell­ers come in. 

Week­ly — Neutral

• Price failed to make a HH instead price closed as a Spin­ning Top with longer sell­ing wick
• Con­jec­ture: Price clos­ing as a Spin­ning Top could see a push down how­ev­er it could still be a Base and poten­tial­ly push higher. 

Dai­ly — Bearish

• D1 QHi reject­ed, fol­lowed by a test through D1 Three Out­side Down giv­ing D1-C‑S 2030.812 with slight con­tin­u­a­tion low­er. Although price failed to close with­in. D1-C‑D 2004.826
• Pos­si­ble D1 Phase 3
• Con­jec­ture: A momen­tum move implies an imme­di­ate push low­er. In absence of that price could push high­er instead. 

Sen­ti­ment sum­ma­ry — Neutral

Addi­tion­al notes

• N.A. 

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram