Gold 2022 Week 14 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 – Bullish

• Price made a HH and closed within MN QHi as an Inverted Hammer leaving a long selling wick reacting off and closing below MN-C-S 1965.163

Weekly – Bearish

• W1 Evening Star rejecting W1 QHi
• No continuation instead a consolidation
• Possible Phase 1 / 3

Daily – Neutral

• D1 QHi rejected
• Possible D1 Phase 1 / 3

Sentiment summary – Neutral

• MN Inverted Hammer could see a continuation higher. Although selling wick could see sellers coming in.
• W1 Consolidation after QHi rejection, possible phase 3 but would need a break from range. Bottom of the range could be good for longs and vice versa.
• D1 showing possible Phase 1 / 3, although coming from D1 QHi rejection. Price would need to break below/above the range

Additional notes

• Blackswan event
• Had a long weekend off
• April 14th, metals and indices market closed (not relevant for this week)

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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