Gold 2022 Week 15 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, 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 – Bullish

• Price made a HH and closed within MN QHi as an Inverted Hammer leaving a long selling wick reacting off and closing below MN-C-S 1965.163
• Price is trading above last month’s body, but still within range

Weekly – Neutral

• W1 QHi rejected but with no immediate follow-through
• Instead some consolidation

Daily – Bullish

• D1 QHi rejected with price trading mid swing
• Possible D1 Phase 1, price closing higher currently running into D1-C-S 1957.358

Sentiment summary – Bullish

• MN has formed an Inverted Hammer and price is trading above last month’s body. There could possibly be a continuation higher.
• W1 is consolidating but no break from range (yet). Last week did close as a Bullish Inside Bar (being the 4th candle within formation, currently developing the 5th)
• D1 consolidation and break higher although still D1 supply in the way to clearly indicate direction.

Additional notes

• Blackswan event
• April 14th, metals and indices market closed

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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