12 Sep Gold 2022 Week 37 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

• Price closed low­er fol­low­ing a MN ham­mer clos­ing deep­er with­in MN-C‑D 1738.801 (which was test­ed mul­ti­ple times and almost got tak­en out in July / MN Hammer)
• MN QHi reject­ed, price trad­ing mid swing
• MN VWAP BD to CAR leav­ing a sell­ing wick and price closed near its low
• Con­jec­ture: Price closed with­in demand indi­cates price pos­si­bly tak­ing out said demand. Although the month just start­ed and could see some retrace­ment first.

Week­ly — Bearish

• Price closed as a W1 Spin­ning Top / Inside Bar with­in W1 demand
• Price trad­ing with­in Wide W1 QLo above W1 200MA in UT
• Con­jec­ture: Price closed some­what neu­tral but could see a DBD for­ma­tion pos­si­bly test­ing W1 200MA in UT. A test could see some kind of reac­tion. If price clos­es above W1 demand price could see a reversal. 

Dai­ly — Bullish

• Pos­si­ble D1 Phase 1  although price has not con­fi­dent­ly cleared D1 QLo and there are longer sell­ing wicks around
• Con­jec­ture:  Even though price has closed above D1 QLo it failed to push high­er and is see­ing a form of con­sol­i­da­tion. Plus the longer sell­ing wicks with­in the for­ma­tion indi­cat­ed sell­ers are still around. Price would need to break high­er or low­er from con­sol­i­da­tion to have a clear indi­ca­tion of direction. 

Sen­ti­ment sum­ma­ry — Bearish

Addi­tion­al notes

• N.A. 

Focus Points for trad­ing development

• Month­ly Goals
  • Use SL scaling

• Twit­ter
• Insta­gram