Gold 2021 Week 27 Trading Plan - Bear Market Trader
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Gold 2021 Week 27 Trading Plan

Gold 2021 Week 27 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. 

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Month­ly — Neutral

  • June closed retrac­ing all of May not with­in demand formed in April
  • Trad­ing above MN VWAP in UT

Week­ly — Bullish

  • Price took out W1 demand and pro­ceed­ed to close high­er with a long buy­ing wick mak­ing a slight HH
  • No arrival at W1 QLo after hav­ing reject­ed W1 QHi

Dai­ly — Bullish

  • D1 Three Inside Up giv­ing D1-C‑D 1769.224 with con­tin­u­a­tion high­er tak­ing out D1 Supply
  • No arrival at D1 QLo after D1 QHi Rejection

Sen­ti­ment sum­ma­ry — Bullish

  • MN is some­what neu­tral although being at the bot­tom of the range (and at MN VWAP in UT pos­si­ble TC) and near­by MN demand there could be some buy­ing pressure
  • W1 took out demand but then pro­ceed­ed to close high­er indi­cat­ing a pos­si­ble shift in sentiment
  • D1 took out a pre­vi­ous demand and react­ed by cre­at­ing a new demand and tak­ing out sup­ply fur­ther indi­cat­ing a pos­si­ble shift in sen­ti­ment although no arrival at W1/D1 QLo. With price near­ing D1 VWAP in DT there might be a reac­tion and pull­back to new­ly formed D1 demand. 

Addi­tion­al notes

  • Jul 05, 16:00 EUR Mark­it PMI Composite
  • Jul 06, 21:45 USD Mark­it PMI Composite
  • Jul 06, 22:00 USD ISM Ser­vices PMI
  • Jul 07, 22:00 CAD Ivey Pur­chas­ing Man­agers Index
  • Jul 07, 23:00 USD Fed Mon­e­tary Pol­i­cy Report
  • Jul 08, 02:00 USD FOMC Minutes
  • Jul 08, 20:30 USD Ini­tial Job­less Claims
  • Jul 08, 22:30 USD EIA Crude Oil Stocks Change (THURSDAY)
  • Jul 09, 20:30 CAD Unem­ploy­ment Rate

ZOIs for Pos­si­ble Shorts

  • W1-C‑S 1888.863

ZOIs for Pos­si­ble Long

  • D1-C‑D 1769.224
  • MN-C‑D 2841.655

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
    • Week­ly Focus Points
      • Min. 3 times work­ing out at home + manda­to­ry cardio
    • Trad­ing rules
      • Focus on tak­ing ONE trade a day. If I missed the first DTTZ then a trade needs to be tak­en on the 2nd DTTZ unless there is a high/medium ini­tia­tive activ­i­ty day.
      • Only price-action based exit rules (or if hit time stop comes earlier)
      • M15/M30 entries and exits at 1st DTTZ, M5 entries and exits at 2nd DTTZ
      • Buffer trades (prof­it tar­get >1R) are allowed and encouraged
      • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
      • No social media / mes­sen­ger apps / phone calls allowed dur­ing the trad­ing window
  • 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


Day trader. Tech geek. Sim Racing Enthusiast.

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