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