20220214 Premarket Prep Gold - Bear Market Trader
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20220214 Premarket Prep Gold

14 Feb 20220214 Premarket Prep Gold

Posted at 10:09h 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:

DAX 2022 Week 7 Trad­ing Plan

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

Larg­er Timeframe

  • MN
    • Price trad­ing above last month’s body and range but still with­in over­all MN Supply
  • W1
    • W1 Three Out­side Up test­ing W1 QHi clos­ing with­in W1 Sup­ply after tak­ing out a new­ly formed W1 Supply

Click to Enlarge

Nar­ra­tive

  • D1
    • Price trad­ing with­in D1 QHi after an extend­ed rally
    • D1-C‑D 1832.410 at VAH
    • Prev. Day Exceed­ed ADR by 2.24
  • H4
    • H4 Evening Star with no imme­di­ate con­tin­u­a­tion (yet)
  • Trend
    • Trend is UP 3/3
  • Mar­ket Profile
    • Val­ue cre­at­ed below the pre­vi­ous with price trad­ing extend­ed above value
  • LN Open
    • 2.39xASR Above Val­ue, Out­side Range
    • Huge Imbal­ance
    • Com­bined with strong uptrend there could be momen­tum behind the move
    • ASR exhaus­tion nearby
    • ADR exhaus­tion not far off
    • Asia extend­ed down
    • 0.61xASR Wide IBR

Clar­i­ty

  • 4

Hypos

  • Hypo 1
    • Long
    • Strength From With­in IBR
  • Hypo 2
    • Short
    • Weak­ness From With­in IBR, prefer­ably LTF demand gets tak­en out
  • Hypo 3
    • Long
    • Late-Sus­tained Auction
  • Hypo 4
    • Long
    • Auc­tion Fade

Addi­tion­al Notes

  • N.A.

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
    • 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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