Gold 2022 Week 25 Trading Plan

#fintwit #XAUUSD #GOLD #MarketProfile #Orderflow

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 – Bearish

• MN Bear Engulf giving MN-C-S 1905.787 rejecting MN QHi
• Price continued to close down but reacted off MN demand leaving a longer buying wick closing above MN demand
• Conjecture: Even though MN closed down rejecting MN QHi, the longer buying wick not closing within demand (and above VWAP) indicates buyers could still be around and some retracement higher is possible. Price is trading within body. 

Weekly – Bearish

• W1 Bear Engulf giving W1-C-S 1852.151 Low in Distr. Curve although leaving a longer buying wick reacting off W1-C-D 1807.673 and closing above W1 QLo
• Conjecture: Even though a W1 Bear Engulf was formed it was low in dist curve. Due to price failing to close within W1 QLo and leaving a buying wick indicates buyers are still around. 

Daily – Neutral

• Possible D1 Phase 1 / 3
• Big D1 Bear Engulf after near-touch of D1 QHi followed by a D1 Bull Engulf rejecting D1 QLo with continuation higher
• Price closed within D1 Supply but below W1 Supply and formed a D1 Bearish Inside Bar
• Conjecture: Even though D1 QLo is rejected, price is still trading within overall range. Even though a Bearish Inside Bar is formed, price could follow-through higher. If supply gets taken out it would change the sentiment. Opposite could be true in case of D1 Three Inside Down. 

Sentiment summary – Bearish

Additional notes

• Blackswan event

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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