20220330 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
  • Price made a LL

Nar­ra­tive

• D1
  • D1 Ham­mer formed, pos­si­ble continuation
  • Prev. Day Exceed­ed ADR by 1.20
  • D1 QHi rejected
• H4
  • H4 Bull Engulf formed at D1 Demand reject­ing H4 QLo
• Trend
  • Trend is UP 2/3
• Mar­ket Profile
  • Val­ues in DT
• LN Open
  • 0.43xASR Above Val­ue, With­in Range
  • Mod­er­ate Imbalance
  • 0.31xASR Tight IBR
  • Asia extend­ed and trad­ed higher

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Return to Val­ue, VAH rever­sal, pos­si­ble Failed Auction
• Hypo 2
  • Short
  • Val­ue Acceptance
• Hypo 3
  • Long Auc­tion Fade

Clar­i­ty

• 3

Mind­ful Trad­ing (lack of sleep?)

• 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

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