27 Dec Gold 2022 Week 52 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 — Neutral

• Price formed a Weak Bull Engulf giv­ing W1-C‑D 1795.517 HiDC leav­ing a longer sell­ing wick test­ing Wide W1 QHi
• Price trad­ing below Wide W1 QHi, below W1 50MA
• Con­jec­ture: Long wicks indi­cat­ing some bal­anc­ing going on
• Price probed Wide W1 QHi but did not form a con­firmed rejec­tion of the lev­el and could see a move high­er first.
• Wide W1 QHi could indi­cate a con­tin­u­a­tion higher
• W1 Demand HiDC could get tak­en out

Dai­ly — Neutral

• Pos­si­ble D1 Phase 1 / 3
• Mul­ti­ple tests and rejec­tions of Wide W1/D1 QHi (as well as D1 Sup­ply) with no con­tin­u­a­tion as price failed to close below D1 VWAP in UT and is mak­ing HLs
• Con­jec­ture: Price showed mul­ti­ple momen­tum for­ma­tions reject­ing W1/D1 QHi but fail­ing to push through indi­cat­ing some accumulation/distribution going on. Price needs to break from range before a direc­tion­al cue can be given. 

Sen­ti­ment sum­ma­ry — Neutral

Addi­tion­al notes

• N.A. 

Focus Points for trad­ing development

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

• Twit­ter
• Insta­gram