Gold 2022 Week 18 Trading Plan

30 Apr Gold 2022 Week 18 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 — Bearish

• MN Bear Engulf giv­ing MN-C‑S 1905.787 reject­ing MN QLo

Week­ly — Bearish

• W1 Bear Engulf giv­ing W1-C‑S 1946.944 reject­ing W1 QHi with con­tin­u­a­tion clos­ing below range
• Price seen some reac­tion off W1 VWAP although not con­fi­dent­ly (yet)

Dai­ly — Neutral

• D1 took out D1 Sup­ply Low in Dis­tr. Curve but then closed as an Invert­ed Ham­mer form­ing a weak Three Out­side Up
• D1 QHi rejec­tion with price trad­ing mid swing

Sen­ti­ment sum­ma­ry — Bearish

• MN closed as a Bear Engulf but with some buy­ing wick, even though sell­ing wick is longer and price closed below MN QHi
• W1 fol­low-through and closed below the range and test­ed W1 VWAP. A close above last week’s bar could negate the Bear­ish Thesis.
• D1 took out sup­ply but closed as a Bull­ish Invert­ed Ham­mer and could see con­tin­u­a­tion high­er. Although due to the Larg­er Time­frame bear­ish sen­ti­ment price could con­tin­ue down. More info is needed. 

Addi­tion­al notes

• Black­swan event

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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