Gold 2022 Week 44 Trading Plan - Bear Market Trader
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Gold 2022 Week 44 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
  • 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.
  • Price start­ed react­ing off MN 50MA in UT but is cur­rent­ly trad­ing below body although still with­in range

Week­ly — Bearish

  • Price made a HH test­ing new­ly formed W1 Sup­ply LiDC but closed low­er as a pos­si­ble consolidation
  • Pos­si­ble Phase 1 / 3
  • Price trad­ing above MN/W1 QLo but has not yet test­ed it
  • Con­jec­ture: Price failed to pull through on a pos­si­ble W1 DBD and instead closed as a pos­si­ble consolidation. 
  • Price tried tak­ing out W1 demand End 1614.772 but failed to do so for the moment and could see buy­ers com­ing in.

Dai­ly — Bearish

  • Mul­ti­ple tests of D1/W1 Sup­ply LiDc
  • D1 Three Inside Down at W1/D1 Sup­ply (coin­cid­ing with D1 VWAP in DT) clos­ing slight­ly with­in D1 QLo tak­ing out some demand on the way
  • Con­jec­ture: A D1 Three Inside Down for­ma­tion sug­gests momen­tum in the move although the move hav­ing hap­pened on Fri­day could mean a sell­off before the week­end. As such repeat­ed tests of new­ly formed sup­ply could negate the bear­ish thesis. 
  • D1/W1 LiDC test­ed mul­ti­ple times could be in line with a poten­tial rever­sal around these lev­els if price fails to pull through lower.

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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