Gold 2021 Week 51 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

Week­ly — Bearish

• W1 Three Out­side Down return­ing to W1 base demand lev­el and price hit orig­i­nat­ing level
• Last week closed as a Doji, no rever­sal pat­tern (yet)
• W1 QHi reject­ed with no arrival at QLo

Dai­ly — Neutral

• Pos­si­ble D1 Phase 1 / 3
• Price is trad­ing with­in D1 QLo with no reject­ed (yet)

Sen­ti­ment sum­ma­ry — Neutral

• Pos­si­ble devel­op­ing MN RBR although trad­ing with­in long sell­ing wick
• Price react­ed some off W1 Demand but has not formed a rever­sal (yet)
• Price is trad­ing with­in a range although no break from range (yet)

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

• 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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