20211115 Premarket Prep Gold - Bear Market Trader
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20211115 Premarket Prep Gold

15 Nov 20211115 Premarket Prep Gold

Posted at 10:12h 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 46 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 and W1 QHi

Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 Ham­mer at D1 QHi with no close below D1 QHi (yet)
    • H4 Bear Engulf giv­ing H4-C‑S 1864.377 at old sup­ply. Inside Bar formed at H4-C‑D 1856.280 (which was formed through a H4 Bull Engulf).
    • Pos­si­ble H4 Phase 1 / 3
  • Trend: H4 Up, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 3/3
  • Mar­ket Profile
    • Wider val­ue cre­at­ed below the previous
  • Dai­ly Range
    • ADR: 23261
    • ASR: 16000
      • 400
    • ASR Short: 7406
      • 185
    • Day
      • Yes­ter­day’s High 1868.530
      • Yes­ter­day’s Low 1845.220

Sen­ti­ment

  • LN open
    • Above Val­ue, Out­side Range
  • Open dis­tance to value
    • 0.30xASR
  • Nar­ra­tive
    • Mod­er­ate to Large Imbal­ance. Open below H4 Bear Engulf that closed slight­ly below D1 QHi. Pos­si­ble devel­op­ing H4 DBD. Pos­si­ble H4 Phase 1 / 3.
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1
    • Return to Val­ue, VAH rever­sal long, pos­si­ble Failed Auc­tion Long
  • Hypo 2
    • Sus­tained Auc­tion Short, to val­ue acceptance 
  • Hypo 3
    • Auc­tion Fade Long

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • H4-C‑S 1864.402

ZOIs for Pos­si­ble Long

  • H4-C‑D 1822.888

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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