20220216 Premarket Prep Gold - Bear Market Trader
day trade, day trading, forex, FX, trade plan, trading plan, XAU USD, XAUUSD, GOLD, premarket prep, pre-market prep, tradingforex, traderlifestyle, daytraderlife,
8692
post-template-default,single,single-post,postid-8692,single-format-standard,bridge,ajax_fade,page_not_loaded,,side_area_uncovered_from_content,qode-theme-ver-9.5,hide_inital_sticky
 

20220216 Premarket Prep Gold

16 Feb 20220216 Premarket Prep Gold

Posted at 08:47h in Gold, Gold Premarket Prep, Trading Plan by
0 Likes

#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
    • Price took out W1/D1 Supply
    • Cur­rent­ly trad­ing with­in last week’s body after hav­ing extend­ed the range to the upside mak­ing a HH

Click to Enlarge

Nar­ra­tive

  • D1
    • D1 Bear Engulf giv­ing D1-C‑S 1859.498 clos­ing below D1 QHi
    • Tech­ni­cal­ly reject­ing D1 QHi
    • Prev. Day Exceed­ed ADR by 1.50
  • H4
    • Big H4 Three Inside Down reject­ing H4 QHi
    • No imme­di­ate fol­low-through, instead a lit­tle pos­si­ble bounce in H4 Bull Engulf giv­ing H4-C‑D 1852.384
  • Trend
    • Trend Change from up 3/3 to 2/3
  • Mar­ket Profile
    • 2 over­lap­ping val­ues cre­at­ed with yesterday’s being wide
  • LN Open
    • Open With­in Val­ue (wide value)
    • Bal­anc­ing Market
    • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
    • D1-C‑S 1859.498 with­in wide value
    • Tight IBR

Hypos

  • Hypo 1
    • Short
    • D1 Sup­ply Rever­sal. Pos­si­ble Failed Auction
  • Hypo 2
    • Short
    • Late-Sus­tained Auction
  • Hypo 3
    • Long
    • Failed Auc­tion
  • Hypo 4
    • Long
    • Late-Sus­tained Auction

Clar­i­ty

  • 4

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.

No Comments

Post A Comment