20220427 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

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

Larg­er Timeframe

• MN
  • MN Invert­ed Ham­mer react­ing and clos­ing below MN Supply
  • Price trad­ing below body and MN QHi
• W1
  • W1 Bear Engulf reject­ing W1 QHi (2nd time)
  • Price trad­ing below last week’s body and range
  • W1 demand got tak­en out

Nar­ra­tive

• D1
  • D1 Phase 4 clos­ing with­in demand
  • D1 Inside Bar formed with­in demand
  • D1 QHi reject­ed, price trad­ing mid swing
  • Price trad­ing above D1 LKC in UT
  • Price took out D1/W1 demand, still trad­ing in old demand, near W1 VWAP in UT
• H4
  • Pos­si­ble H4 Phase 1 / 3
  • Price trad­ing with­in wide H4 QLo
  • Pos­si­bly devel­op­ing a break down
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • Val­ues in DT with the last quite near to the previous
• LN Open
  • 0.08xASR Below Val­ue, With­in Range
  • Mod­er­ate Imbalance
  • Asia extend­ed and trad­ed lower
  • 0.37xASR IBR
  • Con­sol­i­da­tion at IB Low, A accept­ed val­ue but B took it down

Addi­tion­al Notes

• Last week of the month

Hypos

• Hypo 1
  • Short
  • Return to Val­ue, Reversal,
• Hypo 2
  • Short
  • Sus­tained Auc­tion, Late-Sus­tained Auction
• Hypo 3
  • Long
  • Auc­tion Fade, pos­si­ble Failed Auc­tion to VAA

Clar­i­ty

• 3

Mind­ful Trad­ing (lack of sleep?)

• Try­ing a new nootrop­ics stack
• Didn’t sleep well but feel­ing okay
• Try­ing out a new for­mat for my pre­mar­ket prep — not sure if I’ll keep it

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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