20220622 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
  • Price trad­ing below body but with­in range
  • MN QHi reject­ed, price trad­ing mid swing
• W1
  • W1 Bear Engulf with longer buy­ing wick react­ing off W1 QLo
  • Price trad­ing below boyd, with­in range

Nar­ra­tive

• D1
  • D1 DBD react­ing off W1 Sup­ply giv­ing D1-C‑S 1837.922 BASE (above VAH)
  • D1 Bull Engulf demand and D1 QLo right below
• H4
  • Price trad­ing at H4 QLo and failed to close with­in in premarket
• Trend
  • Mixed Trend
• Mar­ket Profile
  • Val­ues in DT
• LN Open
  • 0.46xASR Below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Open below yesterday’s low
  • Asia extend­ed and trad­ed lower
  • 0.42xASR IBR
  • NY wider than LN

Addi­tion­al Notes

• N.A.

Hypos

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