Gold 2022 Week 1 Trading Plan - Bear Market Trader
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Gold 2022 Week 1 Trading Plan

Gold 2022 Week 1 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

  • Last month closed as a Bull Engulf / RBR giv­ing MN-C‑D 1780.536
  • Price did not close with­in MN-C‑S 1848.366 and did not break the range high of the pre­vi­ous month
  • MN QHi reject­ed and price trad­ing mid swing

Week­ly — Bearish

  • W1 Three Out­side Down at MN Sup­ply with not much con­tin­u­a­tion. Instead a weak Morn­ing Star with some con­tin­u­a­tion clos­ing above the pre­vi­ous week
  • W1 QHi reject­ed and price trad­ing mid swing

Dai­ly — Bullish

  • D1 Bull Engulf giv­ing D1-C‑D 1791.319 at D1 QLo
  • Some D1 sup­ply cre­at­ed with no fol­low-through. Instead a Bull Engulf not clear­ing sup­ply giv­ing D1-C‑D 1806.441
  • D1 QLo reject­ed and price trad­ing mid swing

Sen­ti­ment sum­ma­ry — Bullish

  • MN closed bull­ish although not clear­ing the sell­ing tail of the pre­vi­ous month and com­ing from a MN QHi rejec­tion trad­ing with­in MN supply
  • Even though W1 QHi got reject­ed, price has react­ed off W1 demand and is clos­ing higher
  • D1 QLo reject­ed and price has trad­ed high­er giv­ing no con­tin­u­a­tion to new sup­ply being made.

Addi­tion­al notes

  • Gold sta­tis­ti­cal­ly ends high­er in Decem­ber / January
  • Watch out for tighter ranges
  • Jan 07, 21:30, USD Non Farm Pay­rolls (Dec)

ZOIs for Pos­si­ble Shorts

  • MN-C‑S 1848.366

ZOIs for Pos­si­ble Long

  • D1-C‑D 1806.441
  • D1-C‑D 1791.319
  • MN-C‑D 1780.536

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 15 trades by the end of the month, can take 2 a day (not in the same prod­uct at the same time) 
    • No ear­ly exits, either hit SL or 2R target
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • Process
    • Keep trade review com­ments short
  • Risk Man­age­ment
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING


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