Gold Week 9 Trading Plan - Bear Market Trader
day trade, day trading, forex, FX, trade plan, trading plan, XAU USD, XAUUSD, GOLD, premarket prep, pre-market prep, tradingforex, traderlifestyle, daytraderlife, weekly trading plan,

Gold Week 9 Trading Plan

Gold Week 9 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. 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

  • Month closed down tak­ing out demand form­ing a Three Out­side Down giv­ing MN-C‑S 1848.392

Week­ly — Slight­ly Bearish

  • After VW VWAP in UT break down and CAR price (through DBD) arrived clean at W1-C‑D 1730 (coin­cid­ing with W1 LKC in UT)
  • Break below W1 50MA through DBD with a near-test of Base lev­el before con­tin­u­ing down
  • Mid W1 Swing

Dai­ly — Slight­ly Bearish

  • D1-C‑S 1806 was cre­at­ed at D1 VWAP in DT before mak­ing a wider swing down to W1-C‑D 1730
  • Mid D1 Swing

Sen­ti­ment sum­ma­ry — Slight­ly Bearish

  • Even though we did take out a Month­ly demand area we also arrived at a W1 demand lev­el so we can expect some push back. The arrival coin­cid­ing with W1 LKC in UT backs up this the­sis unless we can break below tak­ing out demand at W1 Demand End 1671.50.

Addi­tion­al notes

  • Non-farm on Friday

ZOIs for Pos­si­ble Shorts

  • MN-C‑S 1848.392
  • D1-C‑S 1806

ZOIs for Pos­si­ble Long

  • W1-C‑D 1730

Focus Points for trad­ing development

  • Month­ly Goals
    • Con­tin­ue track­ing my DRC track­ing sheet
    • Focus on my own progress and less on others
    • Take a break from cer­tain com­po­nents of social media
    • 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.

No Comments

Post A Comment