Gold 2022 Week 36 Trading Plan - Bear Market Trader
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Gold 2022 Week 36 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

  • Price closed low­er fol­low­ing a MN ham­mer clos­ing deep­er with­in MN-C‑D 1738.801 (which was test­ed mul­ti­ple times and almost got tak­en out in July / MN Hammer)
  • MN QHi reject­ed, price trad­ing mid swing
  • MN VWAP BD to CAR leav­ing a sell­ing wick and price closed near its low
  • Con­jec­ture: Price closed with­in demand indi­cates price pos­si­bly tak­ing out said demand. Although price failed to close below pre­vi­ous range and the month just start­ed and could see some retracement.

Week­ly — Bearish

  • Price had ini­tial­ly closed above W1 QLo, but failed to push high­er an is trad­ing with­in W1 QLo
  • Instead formed a W1 Bear Engulf giv­ing W1-C‑S 1773.738
  • Price closed low­er with­in W1-C‑D 1730.051 leav­ing a bit of a buy­ing wick and price failed close below pre­vi­ous range low as well as W1 200MA in UT not far below
  • Con­jec­ture: Even though price closed with­in demand it failed to close below pre­vi­ous range low. With W1 200MA in UT just below and trad­ing with­in demand price could see a reaction. 

Dai­ly — Bullish

  • Even though Fri­day closed as a D1 Bull Engulf it failed to close above D1 QLo
  • Price react­ed off D1-C‑D 1691.865 and is trad­ing at round num­ber of 1700
  • Con­jec­ture: Price formed a Bull Engulf on Fri­day pos­si­bly in a prof­it-tak­ing move as it also failed to close above D1 QLo. How­ev­er, price is extend­ed below D1 VWAP and could see some reac­tion. With D1-C‑S 1735.993 BASE above a retrace­ment to this lev­el wouldn’t be the strongest sign for a Bear­ish the­sis although D1 sup­ply at 1750 still above it.

Sen­ti­ment sum­ma­ry — Bearish

Addi­tion­al notes

  • N.A. 

Focus Points for trad­ing development

  • Month­ly Goals
    • Use SL scaling


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