Gold 2022 Week 22 Trading Plan - Bear Market Trader
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Gold 2022 Week 22 Trading Plan

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


Day trader. Tech geek. Sim Racing Enthusiast.

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