25 Jul 20220725 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 30 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • Price almost took out MN demand and is cur­rent­ly still trad­ing within
  • MN QHi reject­ed, price trad­ing mid swing
• W1
  • W1 Bull­ish Inside Bar with­in Wide W1 QLo and W1-C‑D 1729.709 (although fail­ing to close above)
  • Price trad­ing below W1 LKC in R

Nar­ra­tive

• D1
  • D1 Bull Engulf giv­ing D1-C‑D 1712.136 (with­in Wide D1 QLo shar­ing same lev­els as W1 QLo) with slight con­tin­u­a­tion high­er although leav­ing a sell­ing wick react­ing off D1 Sup­ply (D1 VWAP in DT right above)
• H4
  • H4 Bear Engulf at H4 QHi with no fol­low-through, instead some consolidation
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • Val­ue cre­at­ed above the pre­vi­ous back with­in over­all range
• LN Open
  • Prev. Day Exceed­ed ADR by 1.10
  • Open With­in Value
  • Asia formed a Neu­tral Day but most­ly trad­ed higher
  • 0.27xASR Tight IBR
  • Open at H4 QHi

Addi­tion­al Notes

• Thurs­day, Jul 28, USD, Fed Inter­est Rate Decision

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion, pos­si­ble 3‑I day ie con­tin­u­a­tion to oppos­ing side
• Hypo 2
  • Long
  • Failed Auc­tion, pos­si­ble 3‑I day ie con­tin­u­a­tion to oppos­ing side
• Hypo 3
  • Long
  • Late-Sus­tained Auction
• Hypo 4
  • Short
  • Auc­tion Fade

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

• 2

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals
  • Use SL scaling

• Twit­ter
• Insta­gram