Gold 2022 Week 41 Trading Plan - Bear Market Trader
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Gold 2022 Week 41 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 is see­ing a reac­tion at MN 50MA in UT with price trad­ing with­in body
  • 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 — Bullish

  • Price retraced to W1-C‑S 1710.087 BASE and closed as a W1 Three Out­side Up but leav­ing a sell­ing wick giv­ing W1-C‑D 1660.658
  • Price trad­ing at W1 200MA in UT
  • Price trad­ing mid swing and has not reached MN/W1 QLo (yet)
  • Con­jec­ture: Retrace­ment to W1 Base Sup­ply indi­cates a pos­si­ble con­tin­u­a­tion to orig­i­nat­ing lev­el of W1-C‑S 1773.738
  • Price test­ed an Old W1 Demand Base lev­el indi­cat­ing a pos­si­ble con­tin­u­a­tion down to 1546.360 but then closed as W1 Three Out­side Up. This could be an indi­ca­tion of momen­tum com­ing in on the buy­ers side. Although price closed with a longer sell­ing wick indi­cat­ing sell­ers are still around. A test of new­ly formed W1 demand could negate a Bull­ish thesis.

Dai­ly — Bearish

  • Price test­ed  D1 50MA in DT TC, D1 Sup­ply and start­ed react­ing clos­ing below D1 QHi reject­ing it
  • Con­jec­ture: How­ev­er not a strong rever­sal reject­ing D1 QHi and trad­ing above D1 VWAP in DT could see buy­ers come in. As there is no rever­sal print­ed yet the bear­ish the­sis is still in effect. 

Sen­ti­ment sum­ma­ry — Bearish

Addi­tion­al notes

  • N.A. 

Focus Points for trad­ing development

  • Month­ly Goals
    • Use SL scaling


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