20220714 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 28 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 MN demand
• W1
  • Price made a LL and is trad­ing below body and range, at W1 demand
  • Price took out pre­vi­ous swing low and is cur­rent­ly trad­ing with­in Wide W1 QLo

Nar­ra­tive

• D1
  • D1 Bull Engulf tak­ing out D1 demand although leav­ing wicks, buy­ing wick slight­ly longer. Sell­ing wick test­ed D1 Sup­ply Low in Dist. Curve.
  • Price trad­ing with­in new Wide D1 QLo
• H4
  • Bir Bar high­er with very long buy­ing wick with no con­tin­u­a­tion. Instead a H4 DBD reject­ing H4 QHi coin­cid­ing with H4 VWAP and H4 LKC in DT.
  • Price almost retraced to Base level.
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • Val­ue cre­at­ed below the previous
• LN Open
  • Prev. Day Exceed­ed ADR by 1.70
  • 0.46xASR Below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia trad­ed lower
  • Open at H4 QLo

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Return to Val­ue, Rever­sal, pos­si­ble Failed Auction
• Hypo 2
  • Long
  • Late-Sus­tained Auc­tion, mon­i­tor for val­ue acceptance
• Hypo 3
  • Short
  • Late-Sus­tained Auction
• Hypo 4
  • Long
  • Auc­tion Fade

Clar­i­ty / Con­fi­dence (1 — 5, low to high)

• 2

Mind­ful Trad­ing (lack of sleep?)

• A bit busy

Focus Points for trad­ing development

• Month­ly Goals
  • Use SL scaling

• Twit­ter
• Insta­gram