Gold Week 13 Trading Plan

27 Mar Gold Week 13 Trading Plan

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #Gold #XAUUSD 

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, please 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

• Month closed down tak­ing out demand form­ing a Three Out­side Down giv­ing MN-C‑S 1848.392
• Price trad­ing below last month’s body

Week­ly — Neutral

• Price trad­ed and closed with­in the pre­vi­ous week’s body slight­ly above W1 demand

Dai­ly — Neutral

• Pos­si­ble D1 phase 1 or 3, con­sol­i­da­tion at D1 VWAP in DT continued
• Trad­ing with­in sup­ply right above demand

Sen­ti­ment sum­ma­ry — Neutral

• Due to price con­sol­i­dat­ing between D1 Sup­ply and Demand the mar­ket seems to be bal­anc­ing. Unless price can take either out there is no more prob­a­ble direc­tion­al cue. Mixed trend con­firms this. 

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• N.A.

ZOIs for Pos­si­ble Long

• W1-C‑D 1730

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Con­tin­ue track­ing my DRC track­ing sheet
  • Focus on my own progress and less on others
  • Take a break from cer­tain com­po­nents of social media
  • Feel­ing okay with NOT trading
  • Have ‘qui­eter’ weekends

• Week­ly Goal
  • Min. 3 times hit­ting the gym + manda­to­ry cardio
• Trad­ing Rules
  • Trade from D and upwards unless a pos­si­ble momen­tum trade, val­ue accep­tance or otherwise. 
• Risk Man­age­ment
  • 3 trades 1% risk, 3rd trade only if first 2 worked out
  • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

• Twit­ter
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