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Bear Market Trader | Weekly trading Plan GOLD XAUUSD
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Gold Week 22 Trading Plan

Gold Week 22 Trading Plan

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

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. 

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Month­ly — Slight­ly Bullish

  • Price trad­ed high­er (and closed on its high) from the Bull Engulf in April arriv­ing at MN QHi
  • No arrival at MN-C‑S 1965.700 yet

Week­ly — Slight­ly Bullish

  • W1 Phase 2 arriv­ing with­in W1 QHi and W1-C‑S 1890.750 with last week trad­ing higher

Dai­ly — Slight­ly Bullish

  • Price arrived at D1 QHI and start­ed con­sol­i­dat­ing then clos­ing high­er giv­ing D1-C‑D 1897 (at D1 QHi) although high in dis­tri­b­u­tion curve

Sen­ti­ment sum­ma­ry — Slight­ly Bullish

  • Price has reached MN/W1/D1 QHi but has not shown any rever­sal pat­tern (yet)
  • Trad­ing high­er into W1 sup­ply is risky
  • If price can close below /W1 QHi and take out D1 demand it could be the end of the uptrend

Addi­tion­al notes

  • Non­farm Friday

ZOIs for Pos­si­ble Shorts

  • MN-C‑S 1965.700
  • W1-C‑S 1890.750

ZOIs for Pos­si­ble Long

  • D1-C‑D 1897

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
    • Aim to have a min­i­mum of ONE TRADE per trad­ing day
  • Trad­ing Rules
    • Be mind­ful of DTTZs
    • Only price-action based exit rules (or hit time stop)
      • IF NOT… I will do a Bart Simp­sons exer­cise of 7 days, 50 sen­tences of: “I will trust my trad­ing skills and take my exits accordingly”.
    • M15/M30 com­bi­na­tion at 1st DTTZ, M5 entries and exits at 2nd DTTZ
    • Trade from D and upwards unless a pos­si­ble momen­tum trade, val­ue accep­tance or otherwise. 
  • Risk Man­age­ment
    • At least 1 trade with 1% risk, 2nd trade only if first one worked out
    • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

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