Gold 2022 Week 15 Trading Plan

11 Apr Gold 2022 Week 15 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
• Price is trad­ing above last month’s body, but still with­in range

Week­ly — Neutral

• W1 QHi reject­ed but with no imme­di­ate follow-through
• Instead some consolidation

Dai­ly — Bullish

• D1 QHi reject­ed with price trad­ing mid swing
• Pos­si­ble D1 Phase 1, price clos­ing high­er cur­rent­ly run­ning into D1-C‑S 1957.358

Sen­ti­ment sum­ma­ry — Bullish

• MN has formed an Invert­ed Ham­mer and price is trad­ing above last month’s body. There could pos­si­bly be a con­tin­u­a­tion higher.
• W1 is con­sol­i­dat­ing but no break from range (yet). Last week did close as a Bull­ish Inside Bar (being the 4th can­dle with­in for­ma­tion, cur­rent­ly devel­op­ing the 5th)
• D1 con­sol­i­da­tion and break high­er although still D1 sup­ply in the way to clear­ly indi­cate direction.

Addi­tion­al notes

• Black­swan event
• April 14th, met­als and indices mar­ket closed

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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