Gold — Week 49 Trading Plan - Bear Market Trader
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Gold — Week 49 Trading Plan

Gold — Week 49 Trading Plan

#day­trade #day­trad­ing #forex #FX #Forex­trad­er #Forexlifestyle #week­ly­trad­ing­plan #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #Gold #XAUUSD 

This is my week­ly out­look on the 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 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 — Bearish

  • MN Three Out­side Down giv­ing MN-C‑S 1968.255 with con­se­quent DBD (MN-C‑S 1877.471 BASE) fol­low-through at test­ing the new­ly formed C‑Sup once last month leav­ing a longer sell­ing wick behind.

Week­ly — Slight­ly Bearish

  • Mul­ti­ple tests of W1-C‑S 1982.552 with a W1 VWAP Break Down form­ing new sup­ply beneath giv­ing new W1-C‑S 1888.729 (just above MN BASE). Fol­low-through down with W1 50MA being reac­tive and no arrival at W1-C‑D 1729.266 (yet).

Dai­ly — Slight­ly Bullish

  • Clean arrival at D1-C‑D 1763.778 (below D1 200MA, first test) with reac­tion form­ing new demand through Bull Engulf giv­ing D1-C‑D 1786.586 cross­ing over D1-C‑S 1808.303 BASE. 
  • Price still below D1 VWAP although over-extended

H4 — Slight­ly Bullish

  • H4 Bull Engulf dur­ing the ral­ly giv­ing H4-C‑D 1811.027 fol­lowed by a clean arrival at H4-C‑S 1835.600 (UKC in DT after H4 VWAP BO) and ini­tial reaction.

Mar­ket Pro­file — Imbalance

  • Pro­files slop­ing higher

Sen­ti­ment sum­ma­ry — Slight­ly Bullish

  • Even though larg­er time­frames look bear­ish we just hit the W1 50MA in UT which is reac­tive. Price return­ing to D1-C‑S 1863.006 BASE indi­cates a fur­ther bull­ish sen­ti­ment on short to medi­um term hori­zon. Pos­si­ble tran­si­tion into a new W1 demand around these lev­els if we close out the week trad­ing higher. 

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • W1-C‑S 1982.552
  • MN-C‑S 1968.255
  • MN-C‑S 1877.471 BASE
  • D1-C‑S 1863.006 BASE

ZOIs for Pos­si­ble Long

  • D1-C‑D 1786.586
  • D1-C‑D 1763.778
  • W1-C‑D 1729.266

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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