Gold 2022 Week 11 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, 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 — Neutral

• MN closed as a RBR with some sell­ing wick react­ing off MN Sup­ply and clos­ing below MN QHi
• Price trad­ing with­in MN-C‑S 1965.163

Week­ly — Neutral

• Price closed as a long-legged Doji with longer sell­ing wick clos­ing with­in W1 QHi

Dai­ly — Bearish

• D1 Bear Engulf with slight con­tin­u­a­tion although mul­ti­ple buy­ing wicks price closed with­in D1 QHi

Sen­ti­ment sum­ma­ry — Neutral

• MN is trad­ing above the pre­vi­ous range but is trad­ing with­in MN Sup­ply and QHi almost tak­ing out supply
• W1 closed as a Doji (with­in W1 QHi, Sup­ply) but with a longer sell­ing wick, no rever­sal pat­tern com­plet­ed yet, pos­si­ble devel­op­ing W1 Evening Star
• Even though D1 formed a Bear Engulf it did not close below D1 QHi and had no imme­di­ate fol­low-through so more infor­ma­tion is needed.

Addi­tion­al notes

• Black­swan event
• Thurs­day, Mar 17, 02:00, USD, Fed Inter­est Rate Decision

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • No ear­ly exits, either hit SL or target
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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