Gold Week 15 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 – Slightly Bearish

• Trading slightly above last month’s candle at MN VWAP in UT
• Mid MN Swing

Weekly – Slightly Bullish

• Last week closed as Bull Bull Engulf with longer selling wick though therefore not the strongest as sellers are still around. Possibly some consolidation. 
• Mid W1 Swing

Daily – Neutral

• Traded higher almost taking out D1-C-S 1724.823 through RBR although ran into D1 50MA in DT and Friday closed as a Bearish Inside Bar although with buying wick hence some buyers are still present
• Price trading above D1 VWAP after a BO and possible CAS
• Mid D1 Swing

Sentiment summary – Slightly Bullish

• After rejecting D1 QLo price ran into D1 50MA in DT with a D1 Bearish Inside Bar that retraced back to a previous base at D1-C-D 1743 BASE and closed right on top. If price can clear the D1 supply the setting has set for a bullish directional cue. If price fails to find business higher and continues the D1 Inside Bar down there might be a reversal. 

Additional notes

• N.A.

ZOIs for Possible Shorts

• D1-C-S 1805.718
• 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

• Twitter
• Instagram