Gold 2021 Week 47 Trading Plan

20 Nov Gold 2021 Week 47 Trading Plan

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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, 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 — Bearish

• Mul­ti­ple MN QHi rejections
• Price retraced to MN-C‑S 1813.621 (MN Evening Star) and took out the supply
• Pos­si­bly devel­op­ing a MN Three Inside Up

Week­ly — Bullish

• No arrival at W1-C‑S 1888.859 (yet). Instead price closed low­er below W1 QHi as an Inside Bar. 

Dai­ly — Bearish

• Even though a D1 Bull Engulf was formed, there was no con­tin­u­a­tion. Instead a D1 Three Out­side Down was formed giv­ing D1-C‑S 1862.308 tak­ing out D1 demand. 
• Price closed below D1/W1 QHi
• Pos­si­ble D1 Phase 3

Sen­ti­ment sum­ma­ry — Bearish

• MN sup­ply got tak­en out but is still trad­ing with­in a pre­vi­ous MN sup­ply com­ing from a MN QHi rejec­tion pos­si­ble form­ing a MN Three Inside Up
• W1 arrival at W1 QHi and saw some reac­tion. Although not entire­ly a bear­ish close (just yet) it could indi­cate a turn in sentiment. 
• D1 Bull Engulf tak­en out by a Three Out­side Down could see some follow-through.

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• W1-C‑S 1888.859
• D1-C‑S 1862.308

ZOIs for Pos­si­ble Long

• W1-C‑D 1794.045 BASE

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 20 trades by the end of the month, prefer­ably 2 a day (not in the same prod­uct at the same time) 
• Week­ly Goal
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • No ear­ly exits, either hit SL or 2R tar­get, lat­est cut-off 1:30 Lon­don time
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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