20220620 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 25 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 with con­tin­u­a­tion although leav­ing longer buy­ing wick
  • Price trad­ing with­in body
• W1
  • W1 Bear Engulf giv­ing W1-C‑S 1852.151 leav­ing a longer buy­ing wick react­ing off W1 QLo and W1 demand. 
  • Price trad­ing with­in body

Nar­ra­tive

• D1
  • Pos­si­ble D1 Phase 1 / 3
  • D1 Bear­ish Inside Bar at W1/D1 Supply
• H4
  • H4 DBD at W1 Sup­ply giv­ing H4-C‑S 1849.209 (with­in Value)rejecting H4 QHi
  • Asia formed a Spin­ning Top
• Trend
  • Mixed Trend, Up, Down, Up
• Mar­ket Profile
  • Val­ue cre­at­ed above the pre­vi­ous 3‑day range, still with­in over­all range
• LN Open
  • 0.14xASR Below Val­ue, With­in Range
  • Mod­er­ate Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed higher
  • 0.30xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auc­tion, pos­si­ble 2nd Chance entry although per­haps already done dur­ing B TPO.
• Hypo 2
  • Short
  • Sus­tained Auc­tion, risky due to con­ges­tion on the way to target,
• Hypo 3
  • Long
  • Failed Auc­tion
• Hypo 4
  • Long
  • Auc­tion Fade

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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