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

• Twitter
• Instagram