20220524 Premarket Prep Gold

#fin­twit #XAUUSD #GOLD #Mar­ket­Pro­file #Order­flow

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 21 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 Bear Engulf reject­ing MN QHI, price trad­ing below body and made a LL
  • Price react­ing off MN demand
• W1
  • W1 Bull­ish Inside Bar at W1 QLo

Nar­ra­tive

• D1
  • D1 clos­ing high­er almost tak­ing out out D1 Sup­ply leav­ing an Invert­ed Hammer
• H4
  • Some slow­down at Old H4 Supply
• Trend
  • Mixed Trend, Up, Down, Up
• Mar­ket Profile
  • Val­ues in UT, price opened below
• LN Open
  • 0.38xASR Below Val­ue. WIth­in Range
  • Mod­er­ate Imbalance
  • Asia formed a Neu­tral Day
  • 0.51xASR IBR

Addi­tion­al Notes

• Price trad­ing at D1 VWAP

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion
• Hypo 2
  • Long
  • Val­ue Accep­tance, pos­si­ble con­tin­u­a­tion after rota­tion for a late-sus­tained auc­tion entry
• Hypo 3
  • Short
  • Auc­tion Fade

Clar­i­ty

• 3

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing a bit jit­tery, too much caffeine

Focus Points for trad­ing development

• Month­ly Goals
  • Either hit SL or tar­get, reassess after Trad­ing Win­dow Close
  • 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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