Gold 2022 Week 39 Trading Plan - Bear Market Trader
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Gold 2022 Week 39 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 made a LL tak­ing out MN demand and is trad­ing at MN 50MA in UT
  • MN QHi reject­ed, price trad­ing mid swing near­ing MN QLo
  • Con­jec­ture: Price tak­ing out demand indi­cates a pos­si­ble con­tin­u­a­tion as price is com­ing from a MN QHi rejec­tion and is cur­rent­ly trad­ing mid swing. Price is trad­ing at MN 50MA in UT with MN QLo not far below that is coin­cid­ing with the round num­ber of 1600 and could see buy­ers come in. 
  • If price hite MN Base demand it could trig­ger a continuation. 

Week­ly — Bearish

  • W1 DBD giv­ing W1-C‑S 1710.087 BASE clos­ing at W1 200MA in UT
  • Last week closed low­er below 200MA and below range near its low
  • W1 QHi reject­ed (shar­ing lev­els with MN), price trad­ing mid swing near­ing MN/W1 QLo
  • Con­jec­ture: Price did not even try to retrace to the new­ly formed W1 Base Sup­ply lev­el indi­cat­ing there might be some momen­tum behind the move. Price clos­ing near its low below pre­vi­ous range fur­ther adds to this bear­ish the­sis. MN/W1 QLo near the round num­ber of 1600 could see buy­ers com­ing in.

Dai­ly — Bearish

  • D1 Con­sol­i­da­tion and con­tin­u­a­tion down giv­ing D1-C‑S 1671.125
  • Price fol­low­ing D1 VWAP in DT TC
  • Price is trad­ing with­in old D1 demand D1-C‑D 1647.456, price closed near its low
  • Con­jec­ture: The D1 VWAP in DT TC hap­pen­ing low­er with­in the range could indi­cate momen­tum behind the move. A retrace­ment to new­ly formed D1 Sup­ply That is low in dist. curve) could negate the bear­ish thesis. 

Sen­ti­ment sum­ma­ry — Bearish

Addi­tion­al notes

  • N.A. 

Focus Points for trad­ing development

  • Month­ly Goals
    • Use SL scaling


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