Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
#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 – Bearish
- MN QHI rejected, currently mid swing
- Price closed below MN Supply forming an Evening Star but with a slight reaction off MN-C-D 1739.674
- Price tested MN-C-S 1768.539 and shown some reaction
Weekly – Neutral
- W1 ‘flimsy’ bull engulf with no follow-through, instead a spinning top formed with slightly longer selling wick but failed to close within newly formed W1-C-D 1754.182
Daily – Bearish
- D1 DBD (in line with D1 VWAP in DT) with multiple test of D1 supply at MN/D1-C-S 1768.539
- Price trading above D1 QLo
Sentiment summary – Bearish
- MN trading at the bottom of last month’s range and shown reaction of overhead supply
- Price trading within W1 Supply but still above newly formed W1 demand although demand has been tested currently for the second time.
- Consecutive D1 DBD with no close within D1 QLo (although it has been tested many times) and with a larger timeframe bearish sentiment D1 QLo could get taken out.
Additional notes
- N.A.
ZOIs for Possible Shorts
- MN/D1-C-S 1768.539
ZOIs for Possible Long
- W1-C-D 1754.182
- MN-C-D 1739.674
Focus Points for trading development
- Monthly Goals
- No momentum trades on Non-Farm Fridays
- Total of 20 trades by the end of the month, preferably 2 a day (not in the same product at the same time)
- Weekly Goal
- Use SL scaling in case the profit target for the setup doesn’t provide 2R for example for FA or VAA setups
- No early exits, either hit SL or 2R target, latest cut-off 1:30 London time
- Risk Management
- 2 consecutive days of lack of sleep = NO TRADING
