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Trading Plan Gold (XAU USD) 04232020

Trading Plan Gold (XAU USD) 04232020

These are my hypo­thet­i­cals for today’s Gold ses­sion. Basi­cal­ly the lev­els that I will be look­ing at where it has a high­er prob­a­bilis­tic chance the mar­ket will start react­ing. Then I come up with ways I think the mar­ket will react around those lev­els. Dur­ing the ses­sion I then wait for the mar­ket to hit those lev­els and either con­firm or reject my hypoth­e­sis. I hope that makes sense. If not, please get in touch with me. I am not sell­ing you any­thing. I just love to talk to peo­ple that are on the same path as me. So don’t be shy and reach out. 

Obser­va­tions of the market

  • M: Price with­in Quar­ter­ly and month­ly QHi and Sup­ply ZOI
  • W: With­in W QHi. 1st rejec­tion of W Sup­ply ZOI last week but now have retraced more than 50% up and are look­ing to pos­si­bly reject again. We still have today and tomor­row with­in the candle. 
  • D: Trad­ing below D QHi and D Sup­ply ZOI. Made a strong push yes­ter­day from QLo to QHi. Today we haven’t retraced back down much (yet)
  • H4: Rejec­tion of H4 QHi yes­ter­day but no strong push down. Con­sol­i­dat­ing but no strong finisher.
  • M30: M30 is show­ing a dou­ble top rejec­tion of H4 QHi but cur­rent­ly the AS is pos­si­bly look­ing to test it again.
  • Mar­ket Pro­file: Above PDVAH and range. Mar­ket is imbal­anced but test­ing last Friday’s high.

Hypo­thet­i­cal

Hypo1: H4 Swing Rever­sal below H4 QHi

Entry Short below 1707. Tar­gets 1703, 1698, 1692, extend­ed tar­get 1680

Hypo2: H4 Swing Rever­sal with­in H4 QHi

Entry Short below 1718. Tar­gets 1707, 1703, 1698, 1692, extend­ed tar­get 1680

Hypo3: Yesterday’s high BO

Entry Long above 1718. Tar­gets 1723, 1729, extend­ed tar­get 1734

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

3 Comments
  • T3chAddict
    Posted at 16:01h, 23 April

    Opened above PVAH and range. Bull­ish Engulf­ing dur­ing IB. Test­ing yes­ter­day’s high.

  • T3chAddict
    Posted at 17:19h, 23 April

    Hypo3 played out. Mar­ket pro­file indi­cat­ing a trend day. Build­ing struc­ture at the top but only 3 TPOs in pos­si­ble con­tin­u­a­tion. None of my setups occurred to go long. Price trad­ing with­in H4 QHi. Look­ing for poten­tial Hypo2 to set up.

  • T3chAddict
    Posted at 18:02h, 23 April

    Pos­si­ble Con­sol­i­da­tion with­in M30 Sup­ply ZOI and H4 QHi. At the 4th can­dle now. Wait­ing for strong fin­ish­er with­in the next 4 can­dles. to go short.

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