20220425 Premarket Prep Gold

25 Apr 20220425 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 17 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • MN Invert­ed Hammer
  • Price trad­ing with­in last month’s body after react­ing off MN Supply
  • Price trad­ing at MN QHi
• W1
  • W1 Bear Engulf reject­ing W1 QHi
  • Price trad­ing below last week’s body and range

Nar­ra­tive

• D1
  • D1 QHi rejec­tion, price trad­ing mid swing
  • D1 DBD with price cur­rent­ly test­ing D1 Demand
  • Prev. Day Exceed­ed ADR by 1.16
• H4
  • H4 Phase 4 arriv­ing at H4 QLo
• Trend
  • Trend change: trend is down 2/3
• Mar­ket Profile
  • 3‑day over­lap­ping val­ues with last val­ue wider than normal
• LN Open
  • 0.55xASR Below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia trad­ed lower
  • 0.36xASR IBR

Addi­tion­al Notes

• N.A. 

Hypos

• Hypo 1
  • Long
  • Failed Auc­tion, pos­si­ble con­tin­u­a­tion through rever­sal at H4 QLo coin­cid­ing with D1 demand
• Hypo 2
  • Short
  • Late-Sus­tained Auction
• Hypo 3
  • Short
  • Auc­tion Fade, pos­si­ble Return to Val­ue, reversal
• 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

• Twit­ter
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