20220816 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 33 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 but is see­ing some reac­tion at MN VWAP, pos­si­ble CAR
• W1
  • Price trad­ing with­in body and test­ing W1 QLo after rejection

Nar­ra­tive

• D1
  • D1 Bear Engulf giv­ing D1-C‑S 1787.728 clos­ing with­in D1 demand High in Dist. Curve
  • D1 QLo reject­ed, price trad­ing mid swing
• H4
  • H4 sold off to H4 QLo and start­ed con­sol­i­da­tion and formed a Bull Engulf giv­ing H4-C‑D 1778.691 with­in value
• Trend
  • Trend is Down 3/3
• Mar­ket Profile
  • Wide val­ue cre­at­ed below the pre­vi­ous range
• LN Open
  • Prev. Day Exceed­ed ADR by 1.31
  • Open With­in Value
  • Asia formed a Neu­tral Day but trad­ed higher
  • 0.29xASR (slight­ly) Tight IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Failed Auc­tion, pos­si­ble 3‑I day, 
• Hypo 2
  • Short
  • Late-Sus­tained Auc­tion, prefer­ably price clos­es below VAL
• Hypo 3
  • Long
  • 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