20220329 Premarket Prep Gold

29 Mar 20220329 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

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 Evening Star at MN sup­ply giv­ing D1-C‑S 1958.355 with price clos­ing with­in D1-C‑D 1936
  • D1 QHi reject­ed, price trad­ing mid swing
  • Prev. Day Exceed­ed ADR by 1.25
• H4
  • Price arrived at H4 QLo and price start­ed consolidating
• Trend
  • Trend is Up 2/3
• Mar­ket Profile
  • Val­ue cre­at­ed below the pre­vi­ous but price still trad­ing with­in over­all range
• LN Open
  • 0.15xASR Below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day trad­ing sideways
  • 0.34xASR Tight IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Failed Auc­tion
• Hypo 2
  • Long
  • Val­ue Acceptance
• Hypo 3
  • Short
  • Late-Sus­tained Auction
• Hypo 4
  • Long
  • Auc­tion Fade

Clar­i­ty

• 3

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing a bit tired, late in the month. I’m in the prof­it for the month so won’t take any unnec­es­sary risks.

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