Gold 2022 Week 12 Trading Plan

20 Mar Gold 2022 Week 12 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 below MN-C‑S 1965.163 but still with­in MN QHi
• Price trad­ing with­in last month’s range after hav­ing extend­ed and made a HH

Week­ly — Bearish

• W1 Evening Star react­ing off W1-C‑S 1983.821 reject­ing W1 QHi

Dai­ly — Bearish

• D1 Three Out­side Up to D1 VWAP
• D1 Bear Engulf clos­ing with­in new demand giv­ing D1-C‑S 1925.568 (pos­si­ble D1 VWAP CAR) near its low
• D1 QHi reject­ed and price is trad­ing mid swing

Sen­ti­ment sum­ma­ry — Bearish

• MN is still trad­ing with­in last month’s upper range after see­ing reac­tion off supply
• W1 Evening Star reject­ing W1 QHi, although a retrace­ment to new­ly formed C‑sup could negate a bear­ish thesis.
• D1 Broke down from VWAP and test­ed it clos­ing down with­in new­ly formed demand. Although trad­ing at D1 UKC in UT. 

Addi­tion­al notes

• Black­swan event could throw a wrench into a bear­ish outlook

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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