20211110 Premarket Prep Gold - Bear Market Trader
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20211110 Premarket Prep Gold

10 Nov 20211110 Premarket Prep Gold

Posted at 10:16h in Gold, Gold Premarket Prep, Trading Plan by
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#fin­twit #order­flow #day­trad­ing #pre­mar­ket­prep #XAUUSD #GOLD #Forex­trad­er #forex #FX #Forexlifestyle #day­trade #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life 

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

Gold 2021 Week 45 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 above last week’s body and range with­in W1 Sup­ply and made a HH
  • Price near­ing W1 Sup­ply End
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 closed high­er with­in D1 Sup­ply (mul­ti­ple tests)
    • Price cre­at­ed H4-C‑D 1822.888 through bull engulf with longer sell­ing wick then pro­ceed­ed to climb high­er with­in D1 supply
    • H4 Evening Star with­in D1 Sup­ply giv­ing H4-C‑S 1829.864
  • Trend: H4 Up, D1 Up, W1 Up
    • Pre­vail­ing trend: Strong uptrend 3/3
  • Mar­ket Profile
    • Val­ues in UT
  • Dai­ly Range
    • ADR: 21957
    • ASR: 14630
      • 366
    • ASR Short: 6977 
      • 174
    • Day
      • Yes­ter­day’s High 1832.650
      • Yes­ter­day’s Low 1819.090

Sen­ti­ment

  • LN open
    • Open With­in Value
  • Open dis­tance to value
    • N.A.
  • Nar­ra­tive
    • Bal­anc­ing Mar­ket. IB closed above VAH. H4-C‑D 1822.888 at VAL. 
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1
    • Val­ue Rejec­tion Up Sus­tained Auc­tion Up
  • Hypo 2
    • Auc­tion Fade Short, vari­a­tion to Hypo 1
  • Hypo 3
    • Failed Auc­tion Short (IBR too tight)

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • H4-C‑S 1829.864
  • D1-C‑S 1826.648

ZOIs for Pos­si­ble Long

  • H4-C‑D 1822.888
  • H4-C‑D 1816.730

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 20 trades by the end of the month, prefer­ably 2 a day (not in the same prod­uct at the same time) 
    • No ear­ly exits, either hit SL or 2R target
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • Process
    • Keep trade review com­ments short
  • Risk Man­age­ment
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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