17 Dec Gold 2022 Week 51 Trading Plan

#Fin­twit #XAUUSD #GOLD #Mar­ket­Pro­file #Order­flow #Trad­ing­Plan

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. 

Month­ly — Bullish

• MN Bull Engulf at MN 50MA in UT giv­ing MN-C‑D 1664.995 just above MN QLo (no touch)
• Price cur­rent­ly trad­ing above body, out­side range, test­ing MN VWAP
• Con­jec­ture: After a for­ma­tion of a Bull Engulf there might be a retrace­ment to new­ly formed MN demand (2nd Chance entry move)
• MN VWAP could turn into a CAR as price did ini­tial­ly close below pre­vi­ous range low and failed to test MN QLo
• Price closed back with­in over­all range and could see the over­all range stay intact for now

Week­ly — Neutral

• Price made a HH but then closed slight­ly low­er leav­ing a slight­ly longer sell­ing wick react­ing off Wide W1 QHi
• Price trad­ing at W1 50MA
• Con­jec­ture: Price had its first touch of W1 QHi and start­ed react­ing leav­ing a longer sell­ing wick indi­cat­ing sell­ers com­ing in. How­ev­er price did not close con­fi­dent­ly low­er as it left a long buy­ing wick and could be a mere speed­bump. With a Wide QHi price could probe deep­er with­in QHi.
• If price retraces to W1-C‑D 1754.457 price could see a con­tin­u­a­tion. How­ev­er, with W1 VWAP creep­ing below there might be some more buy­ers com­ing in. 

Dai­ly — Neutral

• Pos­si­ble D1 Phase 1 / 3
• D1 Bull­ish Inside Bar at D1 VWAP in UT after a D1 Three Inside Down reject­ed Wide W1/D1 QHi giv­ing D1-C‑S 1807.532 Momentum
• Price trad­ing around Round. No. 1800
• Con­jec­ture: Price failed to fol­low-through on the D1 Three Inside Down and instead formed a Bull­ish Inside Bar (pos­si­ble profit-taking). 
• If price retraces to D1-C‑S 1807.532 Momen­tum, price could see a con­tin­u­a­tion high­er form­ing a D1 Three Inside Up.
• D1 VWAP in UT hit­ting an apex with D1 200MA in DT could see a Break Out/Down

Sen­ti­ment sum­ma­ry — Neutral

Addi­tion­al notes

• N.A. 

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling
  • 1st DTTZ Gold
  • 2nd DTTZ DAX

• Twit­ter
• Insta­gram