20220621 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
  • Price trad­ing below body, with­in range
• W1
  • W1 Bear Engulf giv­ing W1-C‑S 1852.151 after W1 QLo got rejected
  • Price is cur­rent­ly test­ing W1 QLo and W1 demand

Nar­ra­tive

• D1
  • D1 Bear­ish Inside Bar fol­lowed by a pos­si­ble base, impli­ca­tion is for a pos­si­ble DBD
  • D1 QLO reject­ed for 2nd time through Bull Engulf giv­ing D1-C‑D 1821.414
• H4
  • Pos­si­ble H4 Phase 3 reject­ing H4 QHi, price trad­ing mid swing
  • H4 Bear Engulf giv­ing H4-C‑S 1837.961 at VAL
• Trend
  • Mixed Trend
• Mar­ket Profile
  • Val­ue cre­at­ed below the previous
• LN Open
  • 0.23xASR Below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Open below yesterday’s low
  • Asia formed a Neu­tral Day but most­ly trad­ed lower
  • NY wider than LN
  • 0.43xASR IBR
  • B TPO test­ed VAL and accept­ed value

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auction
• Hypo 2
  • Long
  • Val­ue Accep­tance, pos­si­ble Late-Sus­tained Auction
• Hypo 3
  • Short
  • Late-Sus­tained Auction
  • (for­ward-test­ing as a pos­si­ble con­tin­u­a­tion to Hypo 1 in case of a tight IBR although no moot as IB trad­ed high­er test­ing value)
• Hypo 4
  • Long
  • 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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