20210621 Premarket Prep Gold NY

21 Jun 20210621 Premarket Prep Gold NY

#fin­twit #order­flow #day­trad­ing #pre­mar­ket­prep #XAUUSD #GOLD #Forex­trad­er #forex #FX #Forexlifestyle #day­trade #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life 

This is my pre­mar­ket prep for today’s NY ses­sion for GOLD. This prep builds off of my week­ly trade plan I made here:

Gold 2021 Week 25 Trad­ing Plan

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Com­pared against Week­ly Trad­ing Plan

• Price trad­ing with­in last week’s body at W1 Demand

Non-con­jec­ture obser­va­tions of the market

• Price action
  • D1 Closed with­in D1/W1 Demand and is cur­rent­ly trad­ing above last Friday’s body but with­in range
  • H4 trad­ed high­er and closed as a Bull­ish Ham­mer below H4-C‑S 1783.547
    • Lon­don trad­ed high­er clos­ing below H4 sup­ply before reacting
• Trend: H4 Down, D1 Down, W1 Up
  • Pre­vail­ing trend: Trend is DOWN 2/3
• Mar­ket Profile
  • Two over­lap­ping values
• Dai­ly Range
  • ADR: 32796
  • ASR: 17947
    • 449
  • Day
    • Yes­ter­day’s High 1797.030
    • Yes­ter­day’s Low 1760.780

Sen­ti­ment

• NY open
  • With­in Value
• Open dis­tance to value
  • N.A.
• Nar­ra­tive
  • 4
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Failed Auc­tion Short, probe above value
• Hypo 2
  •  Sus­tained auc­tion down, tak­ing out LTF demand, pos­si­bly clos­ing below VAL, late-sus­tained auc­tion entry
• Hypo 3
  • Auc­tion Fade Long, vari­a­tion to Hypo 1 if a 3I is formed or after Hypo 2
• Hypo 5
  •  Failed Auc­tion Long, probe LTF demand at VAL
• Hypo 6
  • Sus­tained Auc­tion Long, close above VAH, late-sus­tained auc­tion entry

Addi­tion­al notes

• Cap­i­tal preser­va­tion rule in effect

ZOIs for Pos­si­ble Shorts

• H4-C‑S 1818.254 BASE
• H4-C‑S 1783.547 (low in dis­tri­b­u­tion curve)

ZOIs for Pos­si­ble Long

• W1-C‑D 1774.420
• MN-C‑D 1741.655
• W1-C‑D 1730.136

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 13 trades by the end of the month
• Week­ly Goal
  • Min. 3 times work­ing out at home + manda­to­ry cardio
• Risk Man­age­ment
  • With­out forc­ing a trade: aim to take 1 trade a day, if pos­si­ble 2. 
  • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

• Twit­ter
• Insta­gram