20220608 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 23 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 with­in body
• W1
  • W1 Bull­ish Inside Bar at W1 QLo fol­lowed by a consolidation

Nar­ra­tive

• D1
  • Pos­si­ble D1 Phase 1 / 3
  • D1 Bull Engulf (not the strongest, pos­si­ble con­sol­i­da­tion) clos­ing above D1 VWAP (pos­si­ble D1 VWAP DT BO to CAS) price did close with­in new­ly formed D1 Supply.
• H4
  • H4 Three Out­side Down giv­ing H4-C‑S 1852.703 at D1 Supply
• Trend
  • Mixed Trend. Up, Down, Up
• Mar­ket Profile
  • Wider Val­ue cre­at­ed below the previous
• LN Open
  • Open With­in Value
  • 0.41xASR IBR
  • Asia extend­ed lower
  • B closed above VAH

Addi­tion­al Notes

• N.A. 

Hypos

• Hypo 1
  • Long
  • Failed Auc­tion
• Hypo 2
  • Long
  • Late-Sus­tained Auction
• Hypo 3
  • Short
  • Failed Auc­tion
• Hypo 4
  • Short
  • Late-Sus­tained Auction

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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