08 Sep 20220908 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

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

Larg­er Timeframe

• MN
  • Price made a LL and is cur­rent­ly trad­ing with­in body
  • MN QHi reject­ed, price trad­ing mid swing
• W1
  • Price trad­ing with­in body
  • Price trad­ing with­in Wide W1 QLo

Nar­ra­tive

• D1
  • D1 Bull Engulf giv­ing D1-C‑D 1712.805 clos­ing above D1 QLo although did not take out Sup­ply that is low in dis­tr. Curve.
• H4
  • H4 con­sol­i­da­tion above new­ly formed D1 demand
  • H4 QLo, reject­ed, price trad­ing mid swing
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • Val­ue cre­at­ed below the previous
• LN Open
  • Prev. Day Exceed­ed ADR by 1.33
  • 1.13xASR Above Val­ue, Out­side Range
  • Large Imbal­ance
  • Asia formed a Neu­tral Day
  • 0.44xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Late-Sus­tained Auction
• Hypo 2
  • Long
  • Failed Auc­tion, mon­i­tor for pos­si­ble continuation
• Hypo 3
  • Long
  • Auc­tion Fade

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