Gold 2023 Week 23 Trading Plan - Bear Market Trader
This is my weekly plan for Gold XAUUSD
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Gold 2023 Week 23 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 — Bearish

  • MN closed as a Bear­ish Inside Bar with longer sell­ing wick
  • Price still trad­ing above MN-C‑D 1926.743 HiDC
  • Con­jec­ture: Price could see some push back at MN demand HiDC. Although being HiDC it could get tak­en out which would be in line for a Bear­ish Inside Bar to tran­si­tion into a Three Out­side Down. 

Week­ly — Bearish

  • W1 Evening Star with con­tin­u­a­tion down clos­ing at W1 VWAP in UT
  • Last week closed as a pos­si­ble Base with longer sell­ing wick
  • W1 QHi reject­ed, price trad­ing mid swing
  • Con­jec­ture: A Base for­ma­tion hints towards a fur­ther con­tin­u­a­tion. Price failed to close above VWAP and could still see buy­ers come in. 

Dai­ly — Bearish

  • D1 Bear Engulf at pre­vi­ous Sup­ply D1-C‑S 1971.156 (coin­cid­ing with D1 VWAP in DT clos­ing below D1 LKC
  • Price cur­rent­ly trad­ing at D1-C‑D 1944.081
  • D1/W1 Qhi reject­ed, price trad­ing mid swing
  • Con­jec­ture:  Price could see some reac­tion at D1 demand. Oth­er­wise expec­ta­tion is for price to push through after D1 Demand End 1931.900 gets tak­en out. 

Sen­ti­ment sum­ma­ry — Bearish

Addi­tion­al notes

  • N.A. 

Focus Points for trad­ing development

  • Month­ly Goals 
    • Use SL scaling


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