Gold 2022 Week 14 Trading Plan

05 Apr 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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