20220221 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 8 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • Pos­si­ble devel­op­ing MN RBR
  • Price is near­ing MN QHi (after QHi has been reject­ed mul­ti­ple times)
• W1
  • Price trad­ing with­in W1 Sup­ply, QHi

Nar­ra­tive

• D1
  • Price formed a Ham­mer below D1 Sup­ply and start­ed test­ing supply
  • Price gapped up on the day and filled it dur­ing Asia
  • D1-C‑S 1903.500 at pre­vi­ous day high
• H4
  • H4 demand at VAL
• Trend
  • Trend is UP 3/3
  • Strong UT
• Mar­ket Profile
  • 2 over­lap­ping values
• LN Open
  • Open With­in Value
  • Asia extend­ed and trad­ed down

Hypos

• Hypo 1
  • Long
  • Late-Sus­tained Auction
  • Strength From With­in IBR
• Hypo 2
  • Short
  • Failed Auc­tion
• Hypo 3
  • Short
  • Auc­tion Fade

Clar­i­ty

• 3

Addi­tion­al Notes

• N.A.

Mind­ful Trad­ing (lack of sleep?)

• Felt under the weath­er yes­ter­day and a bit tired today

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • No ear­ly exits, either hit SL or target
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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