Gold 2021 Week 36 Trading Plan - Bear Market Trader
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Gold 2021 Week 36 Trading Plan

Gold 2021 Week 36 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 — Bearish

  • Price formed a Bear Engulf (although to me it was more of a con­sol­i­da­tion) back in June reject­ing MN QHi with no fol­low-through. Instead price has been trad­ing with­in the sup­ply (MN-C‑S 1768.539) it had formed with last month clos­ing as a Drag­on­Fly Doji react­ing off MN-D‑C 1739.674 (coin­cid­ing with MN VWAP in UT TC). 
  • No high over July has been made (yet)

Week­ly — Bullish

  • W1 con­sol­i­da­tion and break down Bear Engulf fin­ish­er giv­ing W1-C‑S 1807.592 to a gap down and fill after react­ing off MN-C‑D 1739.674 and reject­ing W1 QLo. Price con­tin­ued high­er clos­ing deep­er into the supply. 

Dai­ly — Bullish

  • Price reject­ed D1 QLo and has been trad­ing high­er arriv­ing at D1 QHi with no rejec­tion and price closed at D1-C‑S 1826.118

Sen­ti­ment sum­ma­ry — Bearish

  • MN has failed to fol­low-through on the rejec­tion com­ing from MN QHi (as of yet) although price trad­ing in a large MN supply
  • W1 showed a bounce and has not made a rever­sal in line with MN sen­ti­ment (yet) and there could be more upside if W1 sup­ply gets tak­en out as W1 QLo has been reject­ed with no arrival at QHi (yet).
  • D1 reject­ed QLo and is now trad­ing with­in QHi at a sup­ply. If that sup­ply gets tak­en out there could be more upside. 

Addi­tion­al notes

  • Sep 09, 19:45, EUR, ECB Inter­est Rate Decision

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1826.118
  • W1-C‑S 1807.592
  • MN-C‑S 1768.539

ZOIs for Pos­si­ble Long

  • MN-D‑C 1739.674

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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