Gold Week 9 Trading Plan

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This is my week­ly out­look on GOLD. Basi­cal­ly the lev­els that I will be look­ing at where it has 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

Week­ly — Slight­ly Bearish

• After VW VWAP in UT break down and CAR price (through DBD) arrived clean at W1-C‑D 1730 (coin­cid­ing with W1 LKC in UT)
• Break below W1 50MA through DBD with a near-test of Base lev­el before con­tin­u­ing down
• Mid W1 Swing

Dai­ly — Slight­ly Bearish

• D1-C‑S 1806 was cre­at­ed at D1 VWAP in DT before mak­ing a wider swing down to W1-C‑D 1730
• Mid D1 Swing

Sen­ti­ment sum­ma­ry — Slight­ly Bearish

• Even though we did take out a Month­ly demand area we also arrived at a W1 demand lev­el so we can expect some push back. The arrival coin­cid­ing with W1 LKC in UT backs up this the­sis unless we can break below tak­ing out demand at W1 Demand End 1671.50.

Addi­tion­al notes

• Non-farm on Friday

ZOIs for Pos­si­ble Shorts

• MN-C‑S 1848.392
• D1-C‑S 1806

ZOIs for Pos­si­ble Long

• W1-C‑D 1730

Focus Points for trad­ing development

• Month­ly Goals
  • 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

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