20220105 Premarket Prep Gold

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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 2022 Week 1 Trad­ing Plan

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

Com­pared against Week­ly Trad­ing Plan

• Price gapped up, but is still trad­ing above last week’s body

Sen­ti­ment

• LN open
  • 0.64xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
• Mar­ket Profile
  • Val­ue cre­at­ed below the pre­vi­ous with price trad­ing above
• Nar­ra­tive
  • D1 Inside Bar com­ing from D1 QLo rejec­tion trad­ing mid swing
  • Trad­ing mid H4 swing no arrival at H4 QHi yet, cur­rent­ly consolidating
  • Prev. day Exceed­ed ADR by 1, pos­si­ble momentum
  • Mixed trend
  • Ope­ma t yesterday’s high
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Auc­tion Fade Short
• Hypo 2
  • Return to Val­ue, VAH rever­sal long
• Hypo 3
  • Failed Auc­tion Short
• Hypo 4
  • Sus­tained Auc­tion long

ZOIs for Pos­si­ble Shorts

• D1-C‑S 1849.366
• H4-C‑S 1825.632

ZOIs for Pos­si­ble Long

• D1-C‑D 1806.441

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 15 trades by the end of the month, can take 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
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