Gold 2021 Week 24 Trading Plan

12 Jun Gold 2021 Week 24 Trading Plan

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #Gold #XAUUSD 

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 — Slight­ly Bullish

• Price trad­ed high­er (and closed on its high) from the Bull Engulf in April arriv­ing at MN QHi
• No arrival at MN-C‑S MN-C‑S 1964.915 yet
• Some reac­tion off MN QHi

Week­ly — Slight­ly Bearish

• Price formed an Inside Bar with longer buy­ing wick with­in W1 QHi and W1-C‑S 1888.863 (been test­ed mul­ti­ple times) then pro­ceed­ed to close below form­ing a W1 Three Out­side Down (although not the strongest)

Dai­ly — Slight­ly Bearish

• Pos­si­ble D1 Phase 3 with a D1 Bear Engulf (at W1 C‑sup) break­ing down from con­sol­i­da­tion clos­ing with­in D1 Demand below D1 QHi (and below VWAP although not by much)

Sen­ti­ment sum­ma­ry — Slight­ly Bearish

• MN arrived at MN QHi but is still trad­ing at last month’s body and there is space left to the next MN supply
• W1 Made a Three Out­side Down clos­ing below W1 QHi
• D1 con­sol­i­dat­ed and formed a bear engulf but still has not tak­en out D1 demand

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• MN-C‑S 1964.915
• W1-C‑S 1888.863

ZOIs for Pos­si­ble Long

• D1-C‑D 1825.990

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 13 trades by the end of the month
• Week­ly Goal
  • Min. 3 times work­ing out at home + manda­to­ry cardio
• Risk Man­age­ment
  • With­out forc­ing a trade: aim to take 1 trade a day, if pos­si­ble 2. 
  • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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