20220707 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 27 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 and range
  • MN QHi reject­ed, price trad­ing mid swing
• W1
  • Price trad­ing below body and range deep­er with­in wide W1 QLo

Nar­ra­tive

• D1
  • Price trad­ing deep­er with­in Wide D1/W1 QLo, cur­rent­ly trad­ing at MN/D1 demand
• H4
  • H4 Morn­ing Star at MN/D1 demand
• Trend
  • Strong DT 3/3
• Mar­ket Profile
  • Val­ue cre­at­ed below the pre­vi­ous, in DT
• LN Open
  • Prev. Day Exceed­ed ADR by 1.51
  • 1.46xASR Below Val­ue, Out­side Range
  • Huge Imbal­ance
  • Asia formed a Neu­tral Day but most­ly trad­ed higher
  • 0.30xASR Tight IBR

Addi­tion­al Notes

• N.A.

Hypos

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

Clar­i­ty / Confidence

• 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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