Gold Week 12 Trading Plan

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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, 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 within last month’s body at its low with some reaction off MN VWAP in UT although still 1.5 weeks left into the close.

Weekly – Bullish

• Last week closed as a W1 Three Outside Up at W1-C-D 1730

Daily – Slightly Bullish

• Price confirmed D1 swing by retracing back to D1 Base Level and is trading mid-swing at VWAP in DT with some consolidation deep into D1 supply. 

Sentiment summary – Slightly Bullish

• Price traded away from W1/D1 demand and reached D1 VWAP in DT. A breakout from this level would be in line with a continuation to the W1 Three Outside Up signaling a change in trend especially if 1760 gets taken out. No breakout yet though. By retracing to D1 Base level there is potential for a continued move higher to 1770 and 1800. Although no close on the month yet which could push price back further down. 

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

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