Gold 2022 Week 45 Trading Plan - Bear Market Trader
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Gold 2022 Week 45 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 closed below MN 50MA in DT leav­ing a sell­ing wick clos­ing as an Invert­ed Hammer
  • Con­jec­ture: Price closed below MN 50MA in UT as well as 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 still see buy­ers com­ing in (as price has not cleared the lev­el yet) although no rever­sal has print­ed yet.
  • Price start­ed react­ing off MN 50MA in UT and is cur­rent­ly trad­ing above body, with­in range

Week­ly — Bullish

  • Pos­si­ble W1 Phase 1 / 3
  • Price almost took out W1 Demand End 1614.772 again but closed as a W1 Bull Engulf clos­ing with­in W1 Sup­ply LiDC
  • Price trad­ing below W1 200MA in UT
  • Con­jec­ture: Price failed to take out Demand (tried twice) and instead closed with­in W1 Sup­ply which is Low in Dis­tri­b­u­tion Curve and could get tak­en out. 
  • Pos­si­ble accu­mu­la­tion below W1 200MA in UT could also fur­ther sug­gest a break higher.
  • How­ev­er, since sup­ply is not yet tak­en out and W1 VWAP in DT is right above sell­ers could step in and take over. 
  • If price does take out demand it still needs to deal with MN/W1 QLo right below which could be reactive

Dai­ly — Bullish

  • Huge D1 Bull Engulf reject­ing D1 QLo giv­ing D1-C‑D 1629.875
  • Price closed with­in a D1 Sup­ply Base lev­el (coin­cid­ing with D1 50MA in DT) and almost took it out clos­ing on its high. 
  • Con­jec­ture: price closed with­in a D1 Sup­ply Base lev­el and above the pre­vi­ous accu­mu­la­tion range which could sug­gest a con­tin­u­a­tion higher.
  • Price trad­ing at D1 50MA in DT could see some sell­ers com­ing in.
  • BIg move up could see some retracement

Sen­ti­ment sum­ma­ry — Bullish

Addi­tion­al notes

  • N.A. 

Focus Points for trad­ing development

  • Month­ly Goals
    • Use SL scaling


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