20220527 Premarket Prep Gold

27 May 20220527 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

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 made a LL and start­ed react­ing off MN demand
• W1
  • W1 Bull­ish Inside Bar at W1 QLo
  • Price made a HH and is trad­ing above body and range

Nar­ra­tive

• D1
  • D1 QLo reject­ed and price is trad­ing mid swing
  • Price is trad­ing around D1 VWAP, although closed above price formed a Bear Engulf with no con­tin­u­a­tion. Instead a Hammer.
• H4
  • H4 Three Inside Up giv­ing H4-C‑D 1846.492 (with­in val­ue) turn­ing into a RBR
• Trend
  • Mixed Trend: Up, Down, Up
• Mar­ket Profile
  • Val­ue cre­at­ed below the previous
• LN Open
  • 0.39xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed higher
  • 0.27xASR Tight IBR
  • LN wider than NY

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Late-Sus­tained Auction
• Hypo 2
  • Short
  • Failed Auc­tion
• Hypo 3
  • Short
  • Auc­tion Fade
• Hypo 4
  • Long
  • Return to Val­ue, Rever­sal, pos­si­ble Auc­tion Fade

Clar­i­ty

• 3

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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