Gold Week 11 Trading Plan - Bear Market Trader
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Gold Week 11 Trading Plan

Gold Week 11 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 with some reac­tion off MN VWAP in UT although still 2.5 weeks left into the close

Week­ly — Neutral

  • W1 closed as an Inside Bar (although locat­ed in the mid­dle of the pre­vi­ous week’s body due to a gap up and clos­ing high­er) with longer buy­ing wick after hav­ing test­ed W1 demand end
  • Price is still trad­ing with­in W1 demand

Dai­ly — Neu­tral to Slight­ly Bullish

  • D1 Bull Engulf giv­ing D1-C‑D 1707.500 with fol­low-through high­er arriv­ing at D1-C‑S 1725.10 BASE lev­el form­ing a poten­tial Three Out­side Down although 3rd can­dle returned to close as a con­sol­i­da­tion (2‑day con­sol­i­da­tion) after test­ing new­ly formed D1 C‑dem leav­ing behind a long buy­ing wick.
  • Price formed H4 Q points test­ing QLo before clos­ing high­er with­in con­sol­i­da­tion could take out said Q points. 

Sen­ti­ment sum­ma­ry — Neutral

  • MN time­frame near­ly arriv­ing at VWAP in UT has seen some reac­tion (coin­cid­ing with trad­ing with­in W1 demand) indi­cat­ing a pos­si­ble change on medi­um term time­frame. The Dai­ly has fur­thered that nar­ra­tive by form­ing a Bull Engulf only to then con­sol­i­date below D1 Base lev­el which because it was reached price could see fur­ther con­tin­u­a­tion upwards to 1806 as that is the orig­i­nat­ing lev­el. Price still has to deal with D1 VWAP in DT with­in the cur­rent D1 sup­ply of the base lev­el. Price tak­ing out D1 Sup­ply End 1759.827 would fur­ther enhance the buy­ing pres­sure in Gold. 

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • MN-C‑S 1848.392
  • D1-C‑S 1806
  • D1-C‑S 1725.10 BASE

ZOIs for Pos­si­ble Long

  • D1-C‑D 1707.500
  • W1-C‑D 1730

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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