Gold 2022 Week 16 Trading Plan - Bear Market Trader
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Gold 2022 Week 16 Trading Plan

Gold 2022 Week 16 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. 

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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 — Bullish

  • W1 Con­sol­i­da­tion and BO through W1 Three Out­side Up giv­ing W1-C‑D 1947.156
  • Pos­si­ble W1 Phase 1
  • Price trad­ing below W1 QHi after rejection
  • Price closed near its high

Dai­ly — Bullish

  • D1 Phase 2
  • D1 Base formed with longer buy­ing wick
  • Price trad­ing below D1 QHi after QHi rejection

Sen­ti­ment sum­ma­ry — Bullish

  • Price is trad­ing high­er with­in MN sup­ply and is trad­ing above pre­vi­ous month’s body although still with­in range. Be alert for pos­si­ble sell­ers com­ing in.
  • W1 QHi reject­ed but saw no fol­low-through. Instead a con­sol­i­da­tion and break high­er. Price has not (yet) closed with­in W1 Sup­ply and due to the W1 Three Out­side Momen­tum nature if price retraces to new­ly formed W1 demand it could sig­nal a the­sis for the oppo­site side ie. bear­ish sentiment. 
  • D1 is show­ing some slow­down although no rever­sal pat­tern (yet) and could see fur­ther fol­low-through higher. 

Addi­tion­al notes

  • Black­swan event
  • East­er Monday

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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