Gold Week 14 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, 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 — Slight­ly Bearish

• MN Three Out­side Down giv­ing MN-C‑D 1847.076 with a slight con­tin­u­a­tion but still above MN VWAP in UT
• Mid MN Swing

Week­ly — Neutral

• Price returned to W1-C‑D 1730.366 almost tak­ing it out with last week clos­ing as a Drag­on­fly Doji
• Mid W1 Swing

Dai­ly — Slight­ly Bullish

• D1 Three Inside Up clos­ing above D1 QLo (and D1 VWP in DT) with­in D1-C‑S 1724.823 con­tin­ued with a neu­tral doji
• Reject­ed D1 QLo

Sen­ti­ment sum­ma­ry — Neutral

• Even though there was a con­tin­u­a­tion on the Month­ly, the week­ly is show­ing some long buy­ing wicks and Demand is still intact. Month­ly VWAP in UT is also still in the way. The D1 how­ev­er has reject­ed QLo and is pos­si­bly set­ting up for a RBR. If price can take out the D1 Sup­ply End 1760.535 there could be more upside. The oppo­site is true if price can take out W1 Demand End 1672.222.

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• MN-C‑D 1847.076
• D1-C‑S 1724.823

ZOIs for Pos­si­ble Long

• W1-C‑D 1730.366
• D1-C‑D 1691.862

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Feel­ing okay with NOT trading
  • Have ‘qui­eter’ weekends
• Week­ly Goal
  • Min. 3 times hit­ting the gym + manda­to­ry cardio
  • Only trade the main account
  • Be mind­ful of DTTZs
  • Only price-action based exit rules (or hit time stop)
  • M15/M30 com­bi­na­tion at 1st DTTZ, M5 entries and exits at 2nd DTTZ
• 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

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