Gold 2022 Week 30 Trading Plan - Bear Market Trader
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Gold 2022 Week 30 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 is trad­ing mid swing
  • Last month closed clos­er with­in MN demand but did not make a LL
  • Devel­op­ing month made a LL and is cur­rent­ly test­ing MN-C‑D 1738.757
  • Con­jec­ture: Price is dig­ging deep­er and came close to tak­ing out MN demand. A fur­ther bear­ish sen­ti­ment would be if price can close deep­er with­in (or bet­ter yet take out) MN demand. One week left in the month.

Week­ly — Neutral

  • Price had closed with­in W1-C‑D 1729.709 then pro­ceed­ed to make a LL and last week closed as a W1 Bull­ish Inside Bar (although price failed to close above W1 demand).
  • Price trad­ing below W1 LKC, trad­ing extend­ed below W1 VWAP. 
  • Price trad­ing with­in Wide W1 QLo
  • Con­jec­ture: Even though price formed a Bull­ish Inside Bar it failed to close above Demand and could indi­cate sell­ers still being around. Price came close to tak­ing out swing low and demand again and could have anoth­er go at it. Although due to trad­ing at these lev­els price could devel­op a W1 Three Out­side Up or pos­si­bly start a consolidation. 

Dai­ly — Bullish

  • Price trad­ed around round num­ber of 1700 and closed as a D1 Bull Engulf giv­ing D1-C‑D 1712.136 and saw a slight con­tin­u­a­tion high­er. Price left a sell­ing wick react­ing off D1-C‑S 1739.768 Low in Dist. Curve.
  • Price trad­ing with­in Wide D1 QLo, shar­ing same lev­els as W1 QLo.
  • Con­jec­ture: Price is see­ing a reac­tion around these lev­els but still has to deal with D1 Sup­ply. If price can take out sup­ply it still needs to deal with D1 VWAP in DT. 

Sen­ti­ment sum­ma­ry — Neutral

Addi­tion­al notes

  • Jul 28, USD, Fed Inter­est Rate Decision

Focus Points for trad­ing development

  • Month­ly Goals
    • Use SL scaling


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Raymond P Trounday

Nice ana­lyis on the XAUUSD mar­kets. Would wel­come your thoughts on my analy­sis of GC con­tin­u­ous con­tract here

Would love your thoughts, please comment.x