18 Jul 20220718 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 29 Trad­ing Plan

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Larg­er Timeframe

• MN
  • Price trad­ing deep­er with­in MN demand
• W1
  • Price closed deep­er with­in W1 demand, Wide W1 QLo

Nar­ra­tive

• D1
  • Some slow down above D1-C‑D 1692.029
• H4
  • Some con­sol­i­da­tion and break high­er giv­ing H4-C‑D 1704.844 (with­in val­ue below VAH) although price is trad­ing at H4 VWAP in DT
  • H4 Invert­ed Ham­mer react­ing off H4 VWAP in DT
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • Val­ues in DT
• LN Open
  • 0.66xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed higher
  • 0.57xASR IBR
  • ASR Exhaus­tion High at D1 Sup­ply Base lev­el, ADR exhaus­tion not far above

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion
• Hypo 2
  • Long
  • Failed Auc­tion
• Hypo 3
  • Long
  • Late-Sus­tained Auction
• Hypo 4
  • Short
  • Auc­tion Fade

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

• 2

Mind­ful Trad­ing (lack of sleep?)

• A bit tired

Focus Points for trad­ing development

• Month­ly Goals
  • Use SL scaling

• Twit­ter
• Insta­gram