Gold 2022 Week 29 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 is trad­ing mid swing
• Last month closed clos­er with­in MN demand but did not make a LL
• Devel­op­ing month made a LL and is cur­rent­ly test­ing MN-C‑D 1738.757
• Con­jec­ture: Price is dig­ging deep­er with­in MN demand although still a long way to go  before even­tu­al­ly being able to take it out. A fur­ther bear­ish sen­ti­ment would be if price can close deep­er with­in (or bet­ter yet take out) MN demand. Although still enough time left in the month. 

Week­ly — Bearish

• Price took out W1 Swing Low and estab­lished anoth­er also Wide W1 QLo
• Price trad­ing deep­er with­in W1 QLo and closed deep with­in W1-C‑D 1729.709
• Con­jec­ture: price reached demand and closed with­in indi­cat­ing a pos­si­ble con­tin­u­a­tion. Although the W1 demand could see a reac­tion there is no rever­sal yet. 

Dai­ly — Bearish

• D1 is show­ing some slow down although still clos­ing low­er with­in Wide D1/W1 QLo
• Price trad­ing above D1-C‑D 1692.029, around the round num­ber of 1700.
• Con­jec­ture: Even though price is slow­ing down there has been no rever­sal pat­tern yet. If price tests and takes out D1 Sup­ply Low in Dis­tri­b­u­tion Curve it would negate the bear­ish sentiment.

Sen­ti­ment sum­ma­ry — Bearish

Addi­tion­al notes

• N.A.

Focus Points for trad­ing development

• Month­ly Goals
  • Use SL scaling

• Twit­ter
• Insta­gram