Gold 2022 Week 11 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 – Neutral

• MN closed as a RBR with some selling wick reacting off MN Supply and closing below MN QHi
• Price trading within MN-C-S 1965.163

Weekly – Neutral

• Price closed as a long-legged Doji with longer selling wick closing within W1 QHi

Daily – Bearish

• D1 Bear Engulf with slight continuation although multiple buying wicks price closed within D1 QHi

Sentiment summary – Neutral

• MN is trading above the previous range but is trading within MN Supply and QHi almost taking out supply
• W1 closed as a Doji (within W1 QHi, Supply) but with a longer selling wick, no reversal pattern completed yet, possible developing W1 Evening Star
• Even though D1 formed a Bear Engulf it did not close below D1 QHi and had no immediate follow-through so more information is needed.

Additional notes

• Blackswan event
• Thursday, Mar 17, 02:00, USD, Fed Interest Rate Decision

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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