Gold 2022 Week 24 Trading Plan

#fin­twit #XAUUSD #GOLD #Mar­ket­Pro­file #Order­flow

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 con­tin­ued to close down but react­ed off MN demand leav­ing a longer buy­ing wick clos­ing above MN demand
• Con­jec­ture: 
• Even though MN closed down reject­ing MN QHi, the longer buy­ing wick not clos­ing with­in demand (and above VWAP) indi­cates buy­ers could still be around and some retrace­ment high­er is possible.

Week­ly — Bullish

• W1 RBR react­ing off W1 QLo / W1 demand giv­ing W1-C‑D 1850.788 BASE
• W1 QLo reject­ed, price trad­ing mid swing
• Con­jec­ture:
• If price retraces to Base demand lev­el, price could shift in sentiment.

Dai­ly — Bullish

• Pos­si­ble D1 Phase 1 / 3
• Big Bull Engulf clos­ing above over­all range giv­ing D1-C‑D 1853.719
• D1 QLo reject­ed, price trad­ing mid swing although enar­ing D1 QHi
• Con­jec­ture:
• Even though price closed above over­all range and is fol­low­ing-through on D1 VWAP in DT BO to CAS nar­ra­tive price is run­ning into D1 QHi as well as D1 demand and could see some pushback. 

Sen­ti­ment sum­ma­ry — Bullish

Addi­tion­al notes

• Black­swan event

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