20220802 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 31 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
  • MN closed down as a Ham­mer leav­ing a long buy­ing wick react­ing off MN demand
• W1
  • W1 Three Out­side Up fail­ing to close above W1 QLo
  • Price trad­ing above body and made a HH prob­ing above W1 QLo

Nar­ra­tive

• D1
  • D1 QLo reject­ed, price trad­ing mid swing not quite near D1 50MA in DT yet
• H4
  • Price trad­ing at H4 200MA in DT
  • H4-C‑D 1769.106 High in Dist. Curve with­in value
  • H4-C‑D 1764.557 cre­at­ed at H4 VWAP in UT, below VAL
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • Val­ues in UT
• LN Open
  • Open With­in Value
  • Asia formed a Neu­tral Day but most­ly trad­ed high­er, then reversed
  • 0.43xASR IBR

Addi­tion­al Notes

• Fri­day, Aug 05, USD, Non­farm Pay­rolls Pri­vate (Jul)

Hypos

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

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