20211124 Premarket Prep Gold

24 Nov 20211124 Premarket Prep Gold

#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 47 Trad­ing Plan

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

Com­pared against Week­ly Trad­ing Plan

• Pos­si­ble Devel­op­ing MN Three Inside UP although price trad­ing with­in MN Supply
• Last week closed as an Inside Bar below W1 QHi and price is trad­ing below its body and range: pos­si­bly devel­op­ing a W1 Three Out­side Down
• Price returned to W1 Demand Base Level

Non-con­jec­ture obser­va­tions of the market

• Trend: H4 Down, D1 Up, W1 Up
  • Pre­vail­ing trend: Trend is UP 2/3
• Mar­ket Profile
  • Val­ues in UT
• Dai­ly Range
  • ADR: 25710
  • ASR: 18533
    • 463
  • ASR Short: 10229
    • 256
  • Day
    • Yes­ter­day’s High 1812.270
    • Yes­ter­day’s Low 1781.920

Sen­ti­ment

• LN open
  • Open With­in Value
• Open dis­tance to value
  • N.A.
• Nar­ra­tive
  • Bal­anc­ing Market. 
  • D1 Phase 4 clos­ing at D1 200MA and arrival at D1 QLo and D1-C‑D 1786.996
  • H4 Three Out­side Up and con­tin­u­a­tion reject­ing D1 QLo
  • Price returned to a W1 base demand lev­el sug­gest­ing a pos­si­ble con­tin­u­a­tion down. Price has arrived at D1 QLo and D1 demand and H4 has shown some reac­tion. Trend is still up 2/3. Asia trad­ing more than NY. Prev. Day Exceed­ed ADR by 1.19.
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Failed Auc­tion Long
• Hypo 2
  • Weak­ness From With­in IBR
• Hypo 3
  • Late-Sus­tained Auc­tion Short
• Hypo 4
  • Auc­tion Fade Long

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• H4-C‑S 1808.244

ZOIs for Pos­si­ble Long

• W1-C‑D 1794.045 BASE
• D1-C‑D 1786.996

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

• Twit­ter
• Insta­gram