Gold 2022 Week 9 Trading Plan

01 Mar Gold 2022 Week 9 Trading Plan

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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 — Neutral

• MN closed as a RBR with some sell­ing wick react­ing off MN Sup­ply and clos­ing below MN QHi

Week­ly — Neutral

• Price start­ed react­ing off W1 QHi and closed as a Pinbar

Dai­ly — Bearish

• Pos­si­ble D1 Phase 3
• Price closed below over­all range but saw no fol­low through to the new­ly formed D1-C‑S 1906.011

Sen­ti­ment sum­ma­ry — Neutral

• Even though MN trad­ed high­er tak­ing out some sup­ply it has closed below MN QHi and left a sell­ing wick react­ing off old supply
• W1 has seen large sell­ing com­ing in react­ing off W1 QHi but has not com­plet­ed a rever­sal pat­tern (yet). It could be a devel­op­ing Three Out­side Down but price could also see a continuation 
• There is a pos­si­ble D1 Phase 3 which could indi­cate a begin­ning of a larg­er time­frame rever­sal. How­ev­er, price would need to break the formation.

Addi­tion­al notes

• Fri­day: NFP
• Due to the con­flict in Rus­sia there might be more buy­ing pres­sure com­ing in

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • No ear­ly exits, either hit SL or target
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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