Trading Plan Gold (XAU USD) 04172020

These are my hypo­thet­i­cals for today’s Gold ses­sion. Basi­cal­ly the lev­els that I will be look­ing at where it has a high­er prob­a­bilis­tic chance the mar­ket will start react­ing. Then I come up with ways I think the mar­ket will react around those lev­els. Dur­ing the ses­sion I then wait for the mar­ket to hit those lev­els and either con­firm or reject my hypoth­e­sis. I hope that makes sense. If not, please get in touch with me. I am not sell­ing you any­thing. I just love to talk to peo­ple that are on the same path as me. So don’t be shy and reach out. 

Obser­va­tions of the market

• M: Price with­in Quar­ter­ly and month­ly QHi and Sup­ply ZOI
• W: In process of poten­tial­ly rejec­tion Sup­ply ZOI
• D: Doji Can­dle with­in new­ly formed Sup­ply ZOI just below pre­vi­ous Sup­ply ZOI (7)
• H4: Retest of H4 Sup­ply ZOI with an Evening star
• M30: Con­tin­u­ing mak­ing low­er highs and lows, Line In Sand: 1713

Hypo­thet­i­cal

Hypo: Pull­back to 1713 area, price action con­firm­ing bear­ish sentiment

Entry around 1710, tar­gets 1695, 1685, Extend­ed tar­get 16.70