Gold 2022 Week 17 Trading Plan - Bear Market Trader
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Gold 2022 Week 17 Trading Plan

Gold 2022 Week 17 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 with­in last month’s body and MN QHi

Week­ly — Bearish

  • Price pushed high­er into W1 QHi and W1 Sup­ply before react­ing and clos­ing down with­in new­ly formed W1 Demand (High in Dist. Curve) as a W1 Bear Engulf.

Dai­ly — Bearish

  • D1 QHi rejec­tion to con­sol­i­da­tion and break down con­tin­u­a­tion giv­ing D1-C‑S 1951.264 DBD
  • D1 Phase 4

Sen­ti­ment sum­ma­ry — Bearish

  • MN formed an Invert­ed Ham­mer which could see fol­low-through. Although price has been react­ing off MN Sup­ply and is trad­ing with­in MN QHi
  • W1 tried break­ing high­er through a W1 Three Out­side Up, but price failed to close high­er. Instead reversed to and closed with­in new­ly formed W1 demand but did not take it out. If price fails to take out demand it could be a W1 Phase 1 / 3.
  • D1 saw a speed­bump and con­tin­ued low­er although not tak­ing out D1 demand (yet)

Addi­tion­al notes

  • Black­swan event

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


Day trader. Tech geek. Sim Racing Enthusiast.

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