Gold 2022 Week 23 Trading Plan - Bear Market Trader
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Gold 2022 Week 23 Trading Plan

Gold 2022 Week 23 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 1905.787 reject­ing MN QHi
  • Price con­tin­ued to close down but react­ed off MN demand leav­ing a longer buy­ing wick clos­ing above MN demand
  • Con­jec­ture: Even though MN closed down reject­ing MN QHi, the longer buy­ing wick not clos­ing with­in demand indi­cates buy­ers could still be around and some retrace­ment high­er is possible.

Week­ly — Bullish

  • W1 Bull­ish Inside Bar at W1 QLo with no real con­tin­u­a­tion, instead some consolidation
  • Con­jec­ture: W1 QLo is tech­ni­cal­ly reject­ed although there is some con­sol­i­da­tion it could just be a speed­bump before clos­ing higher. 

Dai­ly — Neutral

  • D1 Three Out­side Up giv­ing D1-C‑D 1847.148 break­ing out from D1 VWAP in DT
  • Fol­lowed by a Bear­ish Inside Bar test­ing new­ly formed demand
  • D1 QLo reject­ed, price trad­ing mid swing
  • Con­jec­ture: D1 Three Out­side Up closed above pre­vi­ous range and far above D1 VWAP. Price then reversed and closed as a Bear­ish Inside Bar although fail­ing to close with­in new­ly formed demand. Price could see a move high­er unless price man­ages to close with­in demand or bet­ter take it out. 

Sen­ti­ment sum­ma­ry — Neutral

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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