20220906 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 36 Trad­ing Plan

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

• MN
  • Price closed deep with­in MN demand and made a LL but is no trad­ing with­in body
  • MN QHi reject­ed, price trad­ing mid swing
• W1
  • Price closed with­in W1 demand and is cur­rent­ly trad­ing with­in body
  • Price trad­ing with­in Wide W1 QLo

Nar­ra­tive

• D1
  • D1 Bull Engulf with slight con­tin­u­a­tion although no con­fi­dent close above D1 QLo
• H4
  • Price closed above pre­vi­ous range high leav­ing a longer sell­ing wick off old H4 sup­ply coin­cid­ing with H4 50MA in DT. Price fol­lowed with a Hammer.
  • H4 QLo reject­ed, price trad­ing mid swing
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • Val­ue cre­at­ed above the previous
• LN Open
  • LN wider than NY
  • 0.46xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia extend­ed and trad­ed higher
  • A TPO accept­ed value
  • 0.53xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Val­ue Accep­tance (risky with D1 demand at VAL)
• Hypo 2
  • Long
  • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auction
• Hypo 3
  • Long
  • Auc­tion Fade (risky with a full rota­tion of val­ue but per­haps due to the D1 demand underneath)
• Hypo 4
  • Short
  • Failed 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