Gold 2022 Week 22 Trading Plan

#fintwit #XAUUSD #GOLD #MarketProfile #Orderflow

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 1906.095 (Near Round Number) rejecting MN QHi
• Price made a LL and started reacting off MN-C-D 1828.483 RBR after almost taking it out. Originating level of MN-C-D 1780.587 not far below.
• Still two days left in the month before a confirmed close

Weekly – Bullish

• W1 Bullish Inside Bar reacting off W1-C-D 1807.673 at W1 QLo followed by an Inverted Hammer
• Pirce broke down from W1 VWAP with no W1 VWAP CAR (yet)

Daily – Neutral

• D1 Bear Engulf at D1 VWAP with longer buying wick
• No continuation (yet) instead a consolidation
• D1 QLo rejected, price trading mid swing

Sentiment summary – Neutral

• MN has shown continuation to MN QHi rejection but started reacting off MN demand. Two days till close.
• W1 failed to follow-through confidently forming a weak Three Outside Up but still closed bullish. Price could see a continuation higher. Price testing demand could negate the bullish thesis. 
• D1 failure to follow-through on the Bear Engulf. Price trading around D1 VWAP has shown to fumble around first before continuing higher. D1 Supply getting taken out would validate a bullish sentiment. Vice verse for demand getting taken out. 

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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