Gold Week 10 Trading Plan - Bear Market Trader
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Gold Week 10 Trading Plan

Gold Week 10 Trading Plan

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #Gold #XAUUSD 

This is my week­ly out­look on GOLD. Basi­cal­ly the lev­els that I will be look­ing at where it has 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, please 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

  • Month closed down tak­ing out demand form­ing a Three Out­side Down giv­ing MN-C‑S 1848.392
  • Price trad­ing below last month’s body close

Week­ly — Bearish

  • W1 Phase 4 clos­ing deep­er into W1-C‑D 1730 not (yet) tak­ing out W1 Demand End 1671.5
  • Mid-swing

Dai­ly — Slight­ly Bearish

  • D1 DBD with base giv­ing D1-C‑S 1725.10 fol­lowed by con­tin­u­a­tion low­er and some­what clean arrival at D1-C‑D 1693 with Fri­day clos­ing as an Inside Bar with equal­ly long buying/selling wicks. 
  • Mid-swing

Sen­ti­ment sum­ma­ry — Bearish

  • D1/W1 phase 4 still in effect although due to D1 clos­ing as an Inside Bar at D1 demand price could push high­er. If price takes out W1 Demand End 1671.5 price could see a con­tin­u­a­tion low­er although it would near MN VWAP in UT thus after tak­ing out demand price could encounter more buy­ers com­ing in. Medi­um and larg­er time­frame show no revers­ing for now though. 

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • MN-C‑S 1848.392
  • D1-C‑S 1806

ZOIs for Pos­si­ble Long

  • W1-C‑D 1730
  • D1-C‑D 1693

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Con­tin­ue track­ing my DRC track­ing sheet
    • Focus on my own progress and less on others
    • Take a break from cer­tain com­po­nents of social media
    • Feel­ing okay with NOT trading
    • Have ‘qui­eter’ weekends
  • Week­ly Goal
    • Min. 3 times hit­ting the gym + manda­to­ry cardio
  • Trad­ing Rules
    • Trade from D and upwards unless a pos­si­ble momen­tum trade, val­ue accep­tance or otherwise. 
  • Risk Man­age­ment
    • 3 trades 1% risk, 3rd trade only if first 2 worked out
    • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING


Day trader. Tech geek. Sim Racing Enthusiast.

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