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Trading Plan Gold (XAU USD) 04242020

Trading Plan Gold (XAU USD) 04242020

These are my hypo­thet­i­cals for today’s EU ses­sion of Gold. 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. Near­ing high of Octo­ber 2012 @ 1795 which is not at a too strong Sup­ply ZOI (3).
  • 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. 
  • D: Push into D QHi. D Sup­ply ZOI (7) @ 1750 area. Need low­er time frames to con­firm a pos­si­ble Swing Rever­sal oth­er­wise stay long-biased.
  • H4: Price con­sol­i­dat­ing with­in H4 QHi with bear­ish engulfing.
  • M30: Con­sol­i­da­tion with­in M30 demand ZOI @ 1721–1724.
  • Mar­ket Pro­file: Price trad­ing with­in PVA, mar­ket is balanced.

Hypo­thet­i­cal

Hypo1: Price push below PVA + con­fir­ma­tion of PVAL as resis­tance to go short

Entry short below 1719. Tar­gets 1710, 1707, 1700, extend­ed tar­get 1683

Hypo2: Range 1719 — 1738

Hypo3: M30 Swing Reversal

Entry Long around 1724. Tar­gets 1729, 1732, extend­ed tar­get 1736

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

1Comment
  • T3chAddict
    Posted at 16:20h, 24 April

    Opened inside PVA. Mar­ket bal­anced. Although H4 look­ing like a sec­ond retest of new­ly formed Sup­ply ZOI after bear­ish engulf­ing I am going to stay out until my approach aligns with mar­ket narrative.

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