20220315 Premarket Prep Gold

15 Mar 20220315 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 11 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • Price trad­ing with­in MN QHi and MN Supply
  • Price start­ed trad­ing below MN supply
• W1
  • Price formed a Doji with longer sell­ing wick with­in W1 QHi and W1 Supply
  • Price trad­ing below last week’s body and range and W1 QHi
  • Pos­si­ble devel­op­ing W1 Evening Star

Nar­ra­tive

• D1
  • D1 closed low­er below D1 QHi
  • Pos­si­ble D1 Phase 4
  • Price near­ing D1 VWAP in UT and D1-C‑D 1934.710
• H4
  • H4 DBD giv­ing H4-C‑S 1950 BASE at yesterday’s low
• Trend
  • Trend is UP 2/3
• Mar­ket Profile
  • Val­ue cre­at­ed below the pre­vi­ous brack­et­ing range
• LN Open
  • 0.98xASR Below Val­ue, Out­side Range
  • Large Imbal­ance
  • Asia extend­ed and trad­ed lower

Hypos

• Hypo 1
  • Short
  • Late-Sus­tained Auc­tion, pos­si­ble Failed Auc­tion, if mean rever­sion doesn’t hap­pen with­in the window
• Hypo 2
  • Long
  • Auc­tion Fade

Clar­i­ty

• 3

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
  • 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
• Insta­gram