11 Aug 20220811 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 32 Trad­ing Plan

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 trad­ing above body, although back with­in range after hav­ing made a HH
  • Price trad­ing above W1 QLo, although no con­fir­ma­tion of rejec­tion yet

Nar­ra­tive

• D1
  • Weak D1 Three Inside Up giv­ing D1-C‑D 1788.258 High in Dist. Curve at D1 50MA in DT fol­lowed by an Invert­ed Hammer
  • Price got close to D1 QHi although not quite
• H4
  • H4 Bear Engulf after round num­ber of 1800 got popped giv­ing H4-C‑S 1790.820 (with­in val­ue) reject­ing H4 QHi fol­lowed by a DBD
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • 2 over­lap­ping values
• LN Open
  • Prev. Day trad­ed 0.95xADR, pos­si­ble momentum
  • 0.16xASR Below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed lower
  • 0.17xASR Tight IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auc­tion, mon­i­tor for continuation
• Hypo 2
  • Long
  • Val­ue Accep­tance, risky with Sup­ply with­in value
• Hypo 3
  • Long
  • Failed Auc­tion
• Hypo 4
  • Short
  • Late-Sus­tained Auction

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