Gold 2021 Week 42 Trading Plan - Bear Market Trader
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Gold 2021 Week 42 Trading Plan

Gold 2021 Week 42 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. 

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Month­ly — Bearish

  • MN QHI reject­ed, cur­rent­ly mid swing
  • Price closed below MN Sup­ply form­ing an Evening Star but with a reac­tion off MN-C‑D 1739.073 retrac­ing to new­ly formed MN C‑sup

Week­ly — Neutral

  • Flim­sy W1 RBR with long sell­ing wick after a 2nd test of W1 QLo

Dai­ly — Bullish

  • Big Bear Engulf at first test of D1-C‑S 1794.175 (coin­cid­ing with D1 200MA) return­ing to D1-C‑D 1762.340
  • Price com­ing from a D1 QLo rejection
  • Pos­si­ble D1 Phase 1

Sen­ti­ment sum­ma­ry — Neutral

  • MN retrace­ment to new­ly formed C‑sup isn’t the strongest bear­ish sig­nal as it’s formed through an Evening Star. Although still about 2 weeks left in the month and price is fol­low­ing a MN QHi rejection.
  • W1 is clos­ing high­er although with long sell­ing wicks plus com­ing from W1 QLo
  • D1 pos­si­bil­i­ty for a Phase 1 expec­ta­tion is for phase 2 although price would need to clear sup­ply that has only been test­ed once and seen a big reac­tion. Thus a pos­si­ble Phase 3 is still in the cards as well fol­low­ing the larg­er time­frame sen­ti­ment. D1 demand still in the way at D1 QLo though so there might be some side­ways mar­ket first. 

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • MN-C‑S 1813.621
  • D1-C‑S 1794.175

ZOIs for Pos­si­ble Long

  • D1-C‑D 1762.340
  • MN-C‑D 1739.073

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


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