29 May 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 — Bullish

• Closed above pre­vi­ous struc­ture high clos­ing as an Invert­ed Hammer
• Price made a HH and took out Supply
• Con­jec­ture: Invert­ed Ham­mer indi­cates pos­si­ble sell­ers still being around although a con­tin­u­a­tion high  is more prob­a­ble. Although hav­ing made a HH tak­ing out Sup­ply could see sell­ers come in. 

Week­ly — Bearish

• W1 Evening Star with con­tin­u­a­tion last week clos­ing at W1 VWAP in UT acti­vat­ing Q points price trad­ing mid swing com­ing from W1 QHi.
• Con­jec­ture: price trad­ing at W1 VWAP in UT could see some reac­tion. How­ev­er as price closed below pre­vi­ous struc­ture low price could see a fur­ther con­tin­u­a­tion lower.

Dai­ly — Bearish

• D1 DBD giv­ing D1-C‑S 1971.156 BASE clos­ing with­in Wide D1 QLo (duck­ing below D1 LKC) as well as D1-C‑D 1965.276 fol­lowed by some consolidation
• Con­jec­ture: price trad­ing with­in a Wide D1 QLo could see a con­tin­u­a­tion fur­ther down. Even though MN Demand HiDC is not far off so price could probe fur­ther down as it coin­cides with a D1 Base Demand level.

Sen­ti­ment sum­ma­ry — Bearish

Addi­tion­al notes

• N.A. 

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram