Gold 2022 Week 8 Trading Plan

21 Feb Gold 2022 Week 8 Trading Plan

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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

• The month closed down with­in MN Sup­ply and range test­ed a Base demand level
• MN QHi rejected
• Price is trad­ing above last month’s body and range with­in MN supply
• Pos­si­ble devel­op­ing MN RBR (still one week left) near­ing MN QHi

Week­ly — Bullish

• Price closed high­er with­in wide W1 QHi and W1-C‑S 1891
• No rever­sal pat­tern (yet)

Dai­ly — Bullish

• Price formed a Ham­mer react­ing off D1-C‑S 1903.50
• Price trad­ing with­in wide D1 QHi
• No rever­sal pat­tern (yet)

Sen­ti­ment sum­ma­ry — Bearish

• Price is near­ing MN QHi again after hav­ing con­fi­dent­ly reject­ed it, it is devel­op­ing a pos­si­ble RBR. If there is no con­tin­u­a­tion after the can­dle close (at month’s end) and price returns to new MN C‑dem it could sig­nal the begin­ning of the move lower.
• Price trad­ing with­in W1 QHi although no rever­sal pat­tern (yet) there could be sell­ers com­ing in
• Price start­ed react­ing off D1 C‑sup although no con­firmed rever­sal pat­tern yet

Addi­tion­al notes

• N.A.

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • No ear­ly exits, either hit SL or target
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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