20220525 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
  • Price trad­ing below body and made a LL that start­ed react­ing off MN Demand
• W1
  • W1 Bull­ish Inside Bar clos­ing above W1 QLo and price is trad­ing above body and range 

Nar­ra­tive

• D1
  • D1 QLo reject­ed, price trad­ing mid swing
  • Price closed high­er above D1 VWAP, tak­ing out Sup­ply, fol­low­ing an Invert­ed Hammer
  • Poten­tial D1 VWAP in DT BO, although price can still fum­ble around.
  • D1-C‑S 1878.061 at D1 QHi 
• H4
  • Some con­sol­i­da­tion and Break Down through H4 Bear Engulf with con­tin­u­a­tion giv­ing H4-C‑S 1863.748
  • H4 demand with­in Value
• Trend
  • Mixed Trend, Up, Down, Up
• Mar­ket Profile
  • 2 over­lap­ping val­ues after UT
• LN Open
  • Open With­in Value
  • Open near H4 demand
  • LN wider than NY
  • 0.15xASR Tight IBR
  • Asia formed a Neu­tral Day but most­ly trad­ed lower

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Failed Auc­tion
• Hypo 2
  • Long
  • Late-Sus­tained Auc­tion, con­ges­tion in the way
• Hypo 3
  • Short
  • Auc­tion Fade, pos­si­ble 3‑I Day
• Hypo 4
  • Short
  • Late-Sus­tained Auc­tion, con­ges­tion in the way

Clar­i­ty

• 2

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

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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