20220309 Premarket Prep Gold

09 Mar 20220309 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 2022 Week 10 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • Price trad­ing deep­er into MN Sup­ply and MN QHi hav­ing made a HH over last month
• W1
  • Price closed near its high last week and is cur­rent­ly trad­ing high­er with­in W1 Sup­ply and W1 QHi
  • Price near­ing W1 Sup­ply End 2075.537

Nar­ra­tive

• D1
  • D1 trad­ed high­er tak­ing out D1 sup­ply but clos­ing with­in D1-C‑S 2037.757
  • Price still trad­ing with­in wide D1 QHi near­ing swing high
  • Prev. Day Exceed­ed ADR by 2.11
• H4
  • H4 con­sol­i­da­tion with­in D1 Supply
• Trend
  • Trend is UP 3/3
  • Strong UT
• Mar­ket Profile
  • Val­ues in UT
• LN Open
  • 1.35xASR Above Val­ue, Out­side Range
  • Large to Huge Imbalance
  • Asia extend­ed high­er but then pulled back
  • 0.28xASR Tight IBR

Hypos

• Hypo 1
  • Short
  • Mean Rever­sion, Late-Sus­tained Auc­tion, tricky with LTF demand in the way
• Hypo 2
  • Long
  • Auc­tion Fade
• Hypo 3
  • Long
  • Return to Val­ue, VAH Reversal

Clar­i­ty

• 3

Addi­tion­al Notes

• N.A.

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing tired so will take extra caution

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

• Twit­ter
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