Gold Week 1 Trading Plan

01 Jan Gold Week 1 Trading Plan

First day of the year. Sec­ond week­ly trad­ing plan. Let’s go!

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This is my week­ly out­look on GOLD. Basi­cal­ly the lev­els that I will be look­ing at where it has 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 through mar­ket pro­file. I hope that makes sense. If not, please get in touch with me. I love to talk to peo­ple that are on the same path as me. So don’t be shy and reach out. 

Month­ly — Bullish

• MN Bull Engulf giv­ing MN-C‑D 1877.953

Week­ly — Slight­ly Bull­ish to Neutral

• RBR giv­ing W1-C‑D 1839.109 fol­lowed by anoth­er base with equal buy­ing and sell­ing wicks react­ing off W1-C‑S 1889.402 and a move slight­ly higher
• Near­ing W1 QHi

Dai­ly — Neutral

• Poten­tial Phase 3 although price trad­ed deep­er into D1-C‑S 1881.380 
• Trad­ing with­in D1 QHi

H4 — Neutral

• Third time test­ing H4-C‑S 1894.209 clos­ing with a big Inside bar retrac­ing almost all of the move deep­er into supply.

Mar­ket Pro­file — Mod­er­ate Imbalance

• After a 4 day brack­et­ing range price trad­ed higher

Sen­ti­ment sum­ma­ry — Balancing

• Due to price trad­ing with­in D1 QHi and near­ing the W1 QHi we could see a rever­sal. If we take out D1-C‑S 1881.380 we could poten­tial­ly see a move high­er which would be in line with larg­er time frame sen­ti­ment. Oppo­site sen­ti­ment if under­ly­ing demand with C‑line coin­cid­ing with MN-C‑D 1877.953 gets tak­en out.

Addi­tion­al notes

• Non-farm on Friday

ZOIs for Pos­si­ble Shorts

• W1-C‑S 1889.402
• H4-C‑S 1894.209
• D1-C‑S 1881.380

ZOIs for Pos­si­ble Long

• MN-C‑D 1877.953
• W1-C‑D 1839.109

Focus Points for trad­ing development

• Month­ly Goals
  • Con­tin­ue track­ing my DRC track­ing sheet
  • Focus on my own progress and less on others
  • Feel­ing okay with NOT trading
  • Have ‘qui­eter’ weekends
• Week­ly Goal
  • Min. 3 times hit­ting the gym + manda­to­ry cardio
• Trad­ing Rules
  • Trade from D and upwards unless a pos­si­ble momen­tum trade, val­ue accep­tance or otherwise. 
• Risk Man­age­ment
  • 3 trades 1% risk, 3rd trade only if first 2 worked out
  • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

• Twit­ter
• Insta­gram