Gold Week 23 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 Bullish

• Price traded higher (and closed on its high) from the Bull Engulf in April arriving at MN QHi
• No arrival at MN-C-S 1965.700 yet
• Some reaction off MN QHi

Weekly – Neutral

• Last week closed as a W1 Bearish Inside Bar (after having made a HH) however with long buying wick closing within W1 QHi, Supply

Daily – Slightly Bearish

• D1 Consolidation and strong finisher breakdown giving D1-C-S 1899.150 closing below D1 QHi testing D1 VWAP in UT before forming a Bullish Inside Bar closing slightly within D1 QHi slightly testing newly formed D1-C-S 1899.150

Sentiment summary – Slightly Bearish

• Price arrived at MN QHi nearing MN supply
• Price trading within W1 Supply and W1 QHi (although no close below QHi yet) and even though last week closed as a Bearish Inside bar it left a long buying wick indicating buyers are still present. 
• D1 Consolidated within W1 Supply and broke down rejecting D1 QHi indicating a possible shift in sentiment on the larger timeframe although price is still trading above D1 VWAP in UT.

Additional notes

• N.A.

ZOIs for Possible Shorts

• MN-C-S 1965.700
• D1-C-S 1899.150
• W1-C-S 1890.750

ZOIs for Possible Long

• D1-C-D 1825.600

Focus Points for trading development

• Monthly Goals
  • No momentum trades on Non-Farm Fridays
  • Total of 13 trades by the end of the month
• Weekly Goal
  • Min. 3 times working out at home + mandatory cardio
• Risk Management
  • Without forcing a trade: aim to take 1 trade a day, if possible 2. 
  • Capital Preservation during drawdown allows for 1R profit-taking
  • 2 consecutive days of lack of sleep = NO TRADING

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