Gold Week 15 Trading Plan

10 Apr Gold Week 15 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 — Slight­ly Bearish

• Trad­ing slight­ly above last month’s can­dle at MN VWAP in UT
• Mid MN Swing

Week­ly — Slight­ly Bullish

• Last week closed as Bull Bull Engulf with longer sell­ing wick though there­fore not the strongest as sell­ers are still around. Pos­si­bly some consolidation. 
• Mid W1 Swing

Dai­ly — Neutral

• Trad­ed high­er almost tak­ing out D1-C‑S 1724.823 through RBR although ran into D1 50MA in DT and Fri­day closed as a Bear­ish Inside Bar although with buy­ing wick hence some buy­ers are still present
• Price trad­ing above D1 VWAP after a BO and pos­si­ble CAS
• Mid D1 Swing

Sen­ti­ment sum­ma­ry — Slight­ly Bullish

• After reject­ing D1 QLo price ran into D1 50MA in DT with a D1 Bear­ish Inside Bar that retraced back to a pre­vi­ous base at D1-C‑D 1743 BASE and closed right on top. If price can clear the D1 sup­ply the set­ting has set for a bull­ish direc­tion­al cue. If price fails to find busi­ness high­er and con­tin­ues the D1 Inside Bar down there might be a reversal. 

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• D1-C‑S 1805.718
• D1-C‑S 1724.823

ZOIs for Pos­si­ble Long

• W1-C‑D 1730.366
• D1-C‑D 1691.862

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Feel­ing okay with NOT trading
  • Have ‘qui­eter’ weekends
• Week­ly Goal
  • Min. 3 times hit­ting the gym + manda­to­ry cardio
  • Only trade the main account
  • Be mind­ful of DTTZs
  • Only price-action based exit rules (or hit time stop)
  • M15/M30 com­bi­na­tion at 1st DTTZ, M5 entries and exits at 2nd DTTZ
• 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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