Gold 2021 Week 52 Trading Plan

20 Dec Gold 2021 Week 52 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

• Last month closed with a long sell­ing wick and pos­si­ble DBD after price took out MN sup­ply although still trad­ing with­in a big­ger supply.
• Price com­ing from MN QHi rejection
• Price is prob­ing above last month’s body into the sell­ing wick

Week­ly — Neutral

• Weak W1 Morn­ing Star after react­ing off W1 demand
• W1 QHi reject­ed with no arrival at W1 QLo yet

Dai­ly — Bullish

• D1 Three Out­side Up react­ing off D1 QLo and Fri­day closed as an Invert­ed hammer
• Price trad­ing mid swing after com­ing from D1 QLo rejection

Sen­ti­ment sum­ma­ry — Bullish

• MN pos­si­bly devel­op­ing a RBR but trad­ing into long sell­ing wick can be troublesome
• W1 did close bull­ish but still some sell­ers around
• D1 wide sup­ply still intact after almost get­ting tak­en out. There was some accu­mu­la­tion going and price broke above the range.

Addi­tion­al notes

• Gold sta­tis­ti­cal­ly ends high­er in Decem­ber / January

ZOIs for Pos­si­ble Shorts

• W1-C‑S 1846.294
• D1-C‑S 1790.962

ZOIs for Pos­si­ble Long

• D1-C‑D 1779.276
• W1-C‑D 1763.670
• MN-C‑D 1739.073

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 15 trades by the end of the month, can take 2 a day (not in the same prod­uct at the same time) 
  • No ear­ly exits, either hit SL or 2R target
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Process
  • Keep trade review com­ments short
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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