Gold 2022 Week 4 Trading Plan - Bear Market Trader
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Gold 2022 Week 4 Trading Plan

Gold 2022 Week 4 Trading Plan

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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, please 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. 

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Month­ly — Bearish

  • Last month closed as a Bull Engulf / RBR giv­ing MN-C‑D 1780.536
  • Price did not close with­in MN-C‑S 1848.366 and did not break the range high of the pre­vi­ous month
  • MN QHi reject­ed and price trad­ing mid swing
  • Price is trad­ing above last month’s body after hav­ing react­ed off MN-C‑D 1780.536

Week­ly — Bullish

  • W1 QHi reject­ed and price trad­ing mid swing
  • Last week closed as a W1 Three Out­side Up giv­ing W1 C‑Dem although with some reac­tion off W1 Supply

Dai­ly — Bearish

  • D1 QHi reached after QLo rejec­tion (coin­cid­ing with D1 UKC)
  • Weak D1 Evening Star (leav­ing a longer buy­ing wick) formed at D1 QHi at first test giv­ing D1 C‑Sup

Sen­ti­ment sum­ma­ry — Neutral

  • MN trad­ing above last month’s body and range but trad­ing with­in MN Supply
  • W1 closed bull­ish although did not close with­in W1 sup­ply. A re-test of new­ly formed demand might not be the most bullish. 
  • D1 Evening Star cre­at­ed at D1 QHi although weak still tech­ni­cal­ly a rejec­tion. Price could fol­low-up on the W1 move and take out new­ly formed D1 sup­ply at QHi. More infor­ma­tion is needed. 

Addi­tion­al notes

  • Gold sta­tis­ti­cal­ly ends high­er in Decem­ber / January
  • Watch out for tighter ranges

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 15 trades by the end of the month, can take 2 a day (not in the same prod­uct at the same time) 
    • No ear­ly exits, either hit SL or 2R target
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • Process
    • Keep trade review com­ments short
  • Risk Man­age­ment
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING


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