Gold Week 23 Trading Plan - Bear Market Trader
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Gold Week 23 Trading Plan

Gold Week 23 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
  • Some reac­tion off MN QHi

Week­ly — Neutral

  • Last week closed as a W1 Bear­ish Inside Bar (after hav­ing made a HH) how­ev­er with long buy­ing wick clos­ing with­in W1 QHi, Supply

Dai­ly — Slight­ly Bearish

  • D1 Con­sol­i­da­tion and strong fin­ish­er break­down giv­ing D1-C‑S 1899.150 clos­ing below D1 QHi test­ing D1 VWAP in UT before form­ing a Bull­ish Inside Bar clos­ing slight­ly with­in D1 QHi slight­ly test­ing new­ly formed D1-C‑S 1899.150

Sen­ti­ment sum­ma­ry — Slight­ly Bearish

  • Price arrived at MN QHi near­ing MN supply
  • Price trad­ing with­in W1 Sup­ply and W1 QHi (although no close below QHi yet) and even though last week closed as a Bear­ish Inside bar it left a long buy­ing wick indi­cat­ing buy­ers are still present. 
  • D1 Con­sol­i­dat­ed with­in W1 Sup­ply and broke down reject­ing D1 QHi indi­cat­ing a pos­si­ble shift in sen­ti­ment on the larg­er time­frame although price is still trad­ing above D1 VWAP in UT.

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • MN-C‑S 1965.700
  • D1-C‑S 1899.150
  • W1-C‑S 1890.750

ZOIs for Pos­si­ble Long

  • D1-C‑D 1825.600

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 13 trades by the end of the month
  • Week­ly Goal
    • Min. 3 times work­ing out at home + manda­to­ry cardio
  • Risk Man­age­ment
    • With­out forc­ing a trade: aim to take 1 trade a day, if pos­si­ble 2. 
    • 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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