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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 — 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