Gold 2022 Week 40 Trading Plan - Bear Market Trader
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Gold 2022 Week 40 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

  • Pos­si­ble MN Phase 4
  • Price test­ed MN 50MA in UT and closed leav­ing a buy­ing wick
  • Price almost reached MN QLo, Round No. of 1600 just below it
  • Con­jec­ture: Price failed to close below MN 50MA in UT but did close below pre­vi­ous range low. As there is no rever­sal yet and MN QLo as well as the 1600 right below price could see a con­tin­u­a­tion and test these lev­els. How­ev­er, price trad­ing at MN 50MA in UT could see buy­ers com­ing in although no rever­sal has print­ed yet.

Week­ly — Bearish 

  • W1 Inside Bar with longer buy­ing wick formed just below W1 200MA in UT after price react­ed off OLD W1 Demand Base level
  • Price has not yet test­ed MN/W1 QLo
  • Con­jec­ture: Price test­ed a W1 Demand Base lev­el which could indi­cate a pos­si­ble con­tin­u­a­tion to W1-C‑D 1546.360 and W1-C‑D 1471.175.

Dai­ly — Bearish

  • Price test­ed D1-C‑S 1670.973 Low in Dist. Curve (coin­cid­ing with D1 VWAP in DT TC) and closed as an Invert­ed Ham­mer below as a pos­si­ble consolidation
  • Con­jec­ture: Price failed to close with­in D1 Sup­ply and as it’s trad­ing at D1 VWAP in DT pos­si­ble TC price could move low­er from here. Although due to the D1 Sup­ply being low in dist. curve mul­ti­ple tests of said sup­ply could see a rever­sal negat­ing the bear­ish thesis. 

Sen­ti­ment sum­ma­ry — Bearish

Addi­tion­al notes

  • N.A. 

Focus Points for trad­ing development

  • Month­ly Goals
    • Use SL scaling


Day trader. Tech geek. Sim Racing Enthusiast.

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