Gold Week 50 Trading Plan - Bear Market Trader
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Gold Week 50 Trading Plan

Gold Week 50 Trading Plan

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #Forex­trad­er #Forexlifestyle #week­ly­trad­ing­plan #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 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.
    • Cur­rent­ly retrac­ing last month’s body over 50% but far from a close as we just start­ed the month

Week­ly — Neutral

  • 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).
    • Instead last week closed as an Inside Bar retrac­ing more than 50%

Dai­ly — Neutral

  • 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 closed Fri­day as an Inside Bar with equal selling/buying wicks at D1 VWAP in DT
  • Price still below D1 VWAP although over extended

H4 — Neutral

  • Pos­si­ble H4 Phase 3  with H4 Bear Engulf with­out fol­low-through hav­ing cre­at­ed sup­ply on top of demand.
  • Price still above H4 VWAP in UT

Mar­ket Pro­file — Balancing

  • 2 day brack­et­ing range after UT

Sen­ti­ment sum­ma­ry — Neutral

  • Medi­um time frames show­ing a price bal­anc­ing after a ral­ly with the pos­si­bil­i­ty for the mar­ket to take a breather before con­tin­u­ing. As always we don’t know until the mar­ket leads us into a direction. 

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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