Gold 2022 Week 20 Trading Plan

14 May Gold 2022 Week 20 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 QHi
• Price made a LL and is trad­ing with­in MN Demand

Week­ly — Bearish

• W1 Phase 4
• Arrival and close with­in W1 QLo, but above W1-C‑D 1807.673 test­ing round num­ber of 1800 below 

Dai­ly — Bearish

• Arrival and close with­in D1 QLo with some reac­tion above D1-C‑D 1797.238

Sen­ti­ment sum­ma­ry — Bearish

• MN trad­ing with­in demand and has not tak­en it out (yet) so there might be buy­ers com­ing in still
• W1 closed with­in W1 QLo but above W1 demand and might see buy­ers com­ing in. Although with a wide QLO there might be fur­ther con­tin­u­a­tion down. 
• D1 closed with­in wide D1 QLo and could see con­tin­u­a­tion although price did not close with­in demand (yet). Test­ing of round num­ber could fur­ther see buy­ers come in. 

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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