Gold 2023 Week 17 Trading Plan - Bear Market Trader
This is my weekly plan for Gold XAUUSD
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Gold 2023 Week 17 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

  • Last month closed slight­ly with­in MN-C‑S 1966.235, and MN QHi giv­ing demand at MN-C‑D 1926.743 Base HiDC
  • Con­jec­ture: Trad­ing at these lev­els can see a reac­tion and set up a reversal

Week­ly — Bearish

  • W1 Evening Star with­in pre­vi­ous sup­ply giv­ing new sup­ply at W1-C‑S 2000.827, at round num­ber. Price failed to close below W1 Supply. 
  • Price trad­ing with­in W1 QHi
  • Con­jec­ture: Due to price fail­ing to close there might be some push­back. How­ev­er, the Evening Star for­ma­tion could war­rant momen­tum com­ing in. The W1 Demand in the way being HiDC could be reac­tive at first although prone to get tak­en out.

Dai­ly — Bearish

  • D1 Con­sol­i­da­tion at D1 VWAP in UT with break down giv­ing D1-C‑S 1994.310
  • Price broke down at round num­ber of 2000
  • Price trad­ing with­in Wide D1 QHi
  • Con­jec­ture: Price is still trad­ing with­in Wide D1 QHi and there is still D1 demand and could see a reaction.

Sen­ti­ment sum­ma­ry — Bearish

Addi­tion­al notes

  • N.A. 

Focus Points for trad­ing development

  • Month­ly Goals 
    • Use SL scaling


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