Gold 2022 Week 19 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 – Bearish

• MN Bear Engulf giving MN-C-S 1905.787 rejecting MN QHi
• Price made a LL

Weekly – Bearish

• Possible D1 Phase 4
• Last week closed lower but with longer buying wick
• Price trading at W1 VWAP in UT although closing slightly below

Daily – Neutral

• Possible D1 Phase 1 / 3
• D1-C-D 1870 tested multiple times but price did not close within
• Same for the overhead supply at D1-C-S 1892.745

Sentiment summary – Bearish

• MN Bear Engulf rejecting MN QHi and price made a LL. If price can push lower to 1828 there could be a further continuation down.
• MN demand at W1 QLo could see buyers coming in, although price has not reached it (yet). No reversal (yet).
• D1 price trading between supply and demand. Supply is low in the Distribution Curve but price needs to take out either for a further directional cue. 

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

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