20220913 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 37 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • Price made a LL but is trad­ing back with­in body
• W1
  • W1 Inside Bar with­in W1 Demand and Wide W1 QLo
  • Price trad­ing above body after hav­ing made a HH

Nar­ra­tive

• D1
  • Pos­si­ble D1 Phase 1
  • Price closed high­er above D1 QLo but again leav­ing a longer sell­ing wick react­ing off D1 VWAP in DT get­ting near to D1 Sup­ply Base lev­el 1735.993.
• H4
  • H4 Bear Engulf at H4 QHi with con­tin­u­a­tion giv­ing H4-C‑S 1727.252 with­in Value
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • 2 over­lap­ping values
• LN Open
  • Prev. Day Exceed­ed ADR by 1.05
  • Ambigu­ous Open, 0.01xASR Below Val­ue, With­in Range
  • Mod­er­ate Imbal­ance, pos­si­ble respon­sive activity 
  • A TPO accept­ed val­ue, sup­ply with­in value
  • Lon­don formed a Neu­tral Day but most­ly trad­ed lower
  • 0.22xASR Tight IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auc­tion (pos­si­ble continuation)
• Hypo 2
  • Long
  • Val­ue Acceptance
• Hypo 3
  • Long
  • Failed Auc­tion
• Hypo 4
  • Short
  • 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