20220328 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 13 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
  • Price made a HH but is cur­rent­ly trad­ing back with­in range
  • Price trad­ing with­in MN QHi
• W1
  • Price trad­ing with­in last week’s W1 Bull­ish Inside Bar
  • W1 QHi rejected

Nar­ra­tive

• D1
  • D1 base formed after break high­er from consolidation
  • D1 QHi reject­ed with price trad­ing mid swing
• H4
  • Pos­si­ble H4 Phase 3
  • H4 QHi reject­ed with price trad­ing mid swing
• Trend
  • Trend is UP 2/3
• Mar­ket Profile
  • Val­ues in UT with price trad­ing below value
• LN Open
  • 1.14xASR Below Val­ue, Out­side Range
  • Large Imbal­ance
  • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed down tak­ing out some demand cur­rent­ly trad­ing at a H4 base demand level
  • 0.29xASR Tight IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Mean Rever­sion, Sus­tained Auction
• Hypo 2
  • Short
  • Late-Sus­tained Auction
• Hypo 3
  • Short
  • Return to Val­ue, Auc­tion Fade
• Hypo 4
  • Long
  • Auc­tion Fade

Clar­i­ty

• 3

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

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