20220804 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

See more

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

Larg­er Timeframe

• MN
  • Price trad­ing with­in body
• W1
  • Price made a HH and is cur­rent­ly trad­ing above body and range
  • Still trad­ing with­in W1 QLo

Nar­ra­tive

• D1
  • D1 Bear Engulf giv­ing D1-C‑S 1763.229 although low in dis­tri­b­u­tion curve, fol­lowed by a Base.
  • Price trad­ing with­in D1 LKC in DT
• H4
  • H4 RBR at OLD H4 demand cur­rent­ly test­ing Old H4 Supply
  • H4 QLo (shar­ing lev­els with D1 QLo) reject­ed, price trad­ing mid swing
• Trend
  • Trend is Down 3/3
• Mar­ket Profile
  • Val­ue cre­at­ed below the pre­vi­ous, trad­ing with­in over­all range
• LN Open
  • 0.25xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia trad­ed higher
  • 0.24xASR Tight IBR
  • Open at yesterday’s high

Addi­tion­al Notes

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

Hypos

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

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

• 3

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals
  • Use SL scaling

• Twit­ter
• Insta­gram