Gold 2021 Week 45 Trading Plan

08 Nov Gold 2021 Week 45 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 closed as an Inside Bar with longer sell­ing wick
• Price trad­ing above MN-C‑S 1813.621 but still long to go till the end of the month

Week­ly — Bullish

• W1 QLo reject­ed with no arrival at W1 QHi (yet)
• Last week closed as a W1 RBR giv­ing W1-C‑D 1794.045 BASE then clos­ing on its high with­in W1-C‑S 1807.771
• W1 Sup­ply still intact, end at W1 Sup­ply End 1834.351 but no rever­sal pat­tern print­ed (yet)

Dai­ly — Bullish

• D1 Bull Engulf giv­ing D1-C‑D 1786.045 with con­tin­u­a­tion high­er tak­ing out D1 sup­ply clos­ing with­in D1 QHi
• No arrival at D1-C‑S 1826.648 (yet)

Sen­ti­ment sum­ma­ry — Bullish

• Price retraced to MN Evening Star sup­ply which could be a rever­sal sign although too ear­ly into the month
• W1 closed on its high with­in W1 sup­ply after com­ing from W1 QLo rejec­tion. W1 Sup­ply still intact.
• D1 sup­ply tak­en out and price trad­ing with­in D1 QHi there might be a reac­tion but there is not rever­sal pat­tern (yet)

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• D1-C‑S 1826.648
• MN-C‑S 1813.621
• W1-C‑S 1807.771

ZOIs for Pos­si­ble Long

• W1-C‑D 1794.045 BASE
• W1-C‑D 1764.198
• MN-C‑D 1739.073

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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