Gold 2022 Week 50 Trading Plan

#Fin­twit #XAUUSD #GOLD #Mar­ket­Pro­file #Order­flow #Trad­ing­Plan

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. 

Month­ly — Bullish

• MN Bull Engulf at MN 50MA in UT giv­ing MN-C‑D 1664.995 just above MN QLo (no touch)
• Price cur­rent­ly trad­ing above body, out­side range, test­ing MN VWAP
• Con­jec­ture: After a for­ma­tion of a Bull Engulf there might be a retrace­ment to new­ly formed MN demand (2nd Chance entry move)
• MN VWAP could turn into a CAR as price did ini­tial­ly close below pre­vi­ous range low and failed to test MN QLo
• Price closed back with­in over­all range and could see the over­all range stay intact for now

Week­ly — Bullish

• W1 Sup­ply got tak­en out as price made a HH clos­ing as a Inside Bar with Longer buy­ing wick / Hammer
• Price trad­ing below W1 QHi, at W1 50MA
• Con­jec­ture: Price closed as a pos­si­ble Base and could see a (pos­si­bly exhaus­tive) push high­er with­in Wide W1 QHi.
• W1 QHi as well as W1 50MA could see sell­ers com­ing in

Dai­ly — Bullish

• D1-C‑D 1770.923 Momen­tum held and closed high­er above D1 200MA test­ing Round No. 1800 although leav­ing a longer sell­ing wick fail­ing to close with­in D1-C‑S 1798.779
• Con­jec­ture: Price closed high­er although failed to close with­in D1 Sup­ply leav­ing a sell­ing wick and could see sell­ers com­ing in. Same thing for trad­ing at D1 200MA although price returned to it as well as Round No. of 1800.
• Clos­ing as a Ham­mer with wider body could see a con­tin­u­a­tion higher

Sen­ti­ment sum­ma­ry — Bullish

Addi­tion­al notes

• N.A. 

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling
  • 1st DTTZ Gold
  • 2nd DTTZ DAX

• Twit­ter
• Insta­gram