Gold 2022 Week 13 Trading Plan

27 Mar Gold 2022 Week 13 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 below MN-C‑S 1965.163 but still with­in MN QHi
• Price trad­ing with­in last month’s range after hav­ing extend­ed and made a HH

Week­ly — Neutral

• W1 Evening Star reject­ing W1 QHi and W1 C‑Sup
• Last week closed as a Bull­ish Inside Bar (no com­plete retrace­ment to new­ly formed supply)

Dai­ly — Bullish

• D1 Con­sol­i­da­tion and break high 
• D1 Base with longer buy­ing wick formed below MN C‑Sup
• D1 QHi rejection

Sen­ti­ment sum­ma­ry — Neutral

• MN start­ed react­ing off MN QHi and MN Sup­ply after hav­ing made a HH
• W1 formed a Bull­ish Inside Bar after hav­ing reject­ed W1 QHi. If price sees a fol­low-through test­ing new­ly formed W1 C‑Sup it could pos­si­bly see a continuation.
• Even though D1 QHi got reject­ed, the price has shown strength mid swing. Price retraced to MN sup­ply and formed a base. More infor­ma­tion is need­ed if the move is sus­tained higher. 

Addi­tion­al notes

• Black­swan event
• Apr 01, 20:30, USD, Non Farm Pay­rolls (Mar)

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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