Gold Week 4 Trading Plan - Bear Market Trader
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Gold Week 4 Trading Plan

Gold Week 4 Trading Plan

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

This is my week­ly out­look on GOLD. Basi­cal­ly the lev­els that I will be look­ing at where it has 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 through mar­ket pro­file. 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

  • MN Bull Engulf giv­ing MN-C‑D 1877.953 last month with price cur­rent­ly trad­ing with­in said demand

Week­ly — Slight­ly Bull­ish to Neutral

  • W1 Bull Engulf at W1 50MA in UT with some push­back from W1-C‑S 1889.402 and W1 VWAP CAR
  • Mid W1 swing

Dai­ly — Neutral

  • Push high­er towards D1 VWAP in Range with con­se­quent Drag­on­fly Doji and tran­si­tion to Evening Star test­ing under­ly­ing demand at W1-C‑D 1839.109 (plus new­ly formed D1 demand). Reac­tion off said demand left a long buy­ing wick behind. 
  • Mid D1 swing

H4 — Slight­ly Bullish

  • Price returned to H4-C‑D 1855.975 BASE and pro­ceed­ed to W1-C‑D 1839.109 (could be con­sid­ered as the orig­i­nat­ing lev­el for the base) before react­ing and formed a H4 Bull­ish Inside Bar with long buy­ing wick. Con­se­quent­ly no fol­low-through (yet).

Mar­ket Pro­file — Balancing

  • Wide Val­ue cre­at­ed below pre­vi­ous UT but still in over­all range

Sen­ti­ment sum­ma­ry — Neutral

  • Even though W1 formed a bull­ish engulf­ing it is retest­ing VWAP (and over­head sup­ply) after price was in an uptrend, broke down and con­firmed VWAP as resis­tance (VWAP CAR). So unless we take out over­head sup­ply (or W1 demand at 50MA in UT) I believe we might be stuck in a range. Which is per­fect­ly fine for intra­day trad­ing. D1 Evening Star with a long buy­ing wick also indi­cat­ing buy­ers (as well as sell­ers) active around these lev­els. Let price action, pro­file sen­ti­ment guide the trades as always. 

Addi­tion­al notes

  • Last week of the month

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1941.237
  • W1-C‑S 1889.402

ZOIs for Pos­si­ble Long

  • MN-C‑D 1877.953
  • W1-C‑D 1839.109
  • D1-C‑D 1786.791

Focus Points for trad­ing development

  • Month­ly Goals
    • Con­tin­ue track­ing my DRC track­ing sheet
    • Focus on my own progress and less on others
    • 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


Day trader. Tech geek. Sim Racing Enthusiast.

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