Gold Week 52 Trading Plan

19 Dec Gold Week 52 Trading Plan

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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 — Slight­ly Bullish

• Price returned to MN-C‑S 1878.607 BASE but the month is not over yet

Week­ly — Slight­ly Bullish

• W1 Inside Bar retrac­ing more than 50% fol­lowed by a Base and Ral­ly com­plet­ing RBR giv­ing W1-C‑D 1839.454 return­ing to W1-C‑S 1888.625 with slight reaction

Dai­ly — Slight­ly Bullish

• Inside Bar at W1-C‑S 1888.625 and price is trad­ing with­in D1 QHi

H4 — Slight­ly Bearish

• H4-C‑S 1883.901 cre­at­ed through Bear Engulf dig­ging deep­er into under­ly­ing demand
• Price above H4 VWAP in UT

Mar­ket Pro­file — Balancing

• 2‑day brack­et­ing range

Sen­ti­ment sum­ma­ry — Balancing

• Due to medi­um and high­er time frame sen­ti­ment (ie return­ing to a MN base lev­el and W1 RBR) we could see a con­tin­u­a­tion to the move. H4 is above VWAP in UT with form­ing rever­sal pat­terns pos­si­bly due for high­er time­frame pull­back coin­cid­ing with a touch of H4 VWAP in UT or fur­ther bal­anc­ing before a break out let­ting VWAP catch up first. Due to the W1 sup­ply near­by (and price being with­in D1 QHi) price could tran­si­tion into a D1 Three Inside Down (or con­sol­i­da­tion) and ini­ti­ate a pos­si­ble rever­sal. As always we’ll let the mar­ket lead.

Addi­tion­al notes

• Brex­it talks still ongoing

ZOIs for Pos­si­ble Shorts

• MN-C‑S 1965.782
• W1-C‑S 1888.625

ZOIs for Pos­si­ble Long

• H4-C‑D 1861.152
• W1-C‑D 1839.454

Addi­tion­al notes

• Brex­it talks still ongoing

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

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