Gold 2022 Week 9 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 – Neutral

• MN closed as a RBR with some selling wick reacting off MN Supply and closing below MN QHi

Weekly – Neutral

• Price started reacting off W1 QHi and closed as a Pinbar

Daily – Bearish

• Possible D1 Phase 3
• Price closed below overall range but saw no follow through to the newly formed D1-C-S 1906.011

Sentiment summary – Neutral

• Even though MN traded higher taking out some supply it has closed below MN QHi and left a selling wick reacting off old supply
• W1 has seen large selling coming in reacting off W1 QHi but has not completed a reversal pattern (yet). It could be a developing Three Outside Down but price could also see a continuation 
• There is a possible D1 Phase 3 which could indicate a beginning of a larger timeframe reversal. However, price would need to break the formation.

Additional notes

• Friday: NFP
• Due to the conflict in Russia there might be more buying pressure coming in

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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