Gold Week 23 Trading Plan

05 Jun Gold Week 23 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 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

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