16 Sep 20220916 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

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

Larg­er Timeframe

• MN
  • MN trad­ed low­er tak­ing out MN demand
  • Price near­ing MN 50MA in UT
• W1
  • Price trad­ed mak­ing a LL tak­ing out demand and W1 QLo cur­rent­ly trad­ing at W1 200MA in UT

Nar­ra­tive

• D1
  • D1 Bear Engulf at D1 VWAP in DT TC with con­tin­u­a­tion with price clos­ing with­in, almost tak­ing out, D1-C‑D 1691.865 (tak­en out dur­ing IB)
  • D1 QLo tak­en out, price mid swing currently
• H4
  • Price slow­down just above D1 Demand End 1659.536
• Trend
  • Trend is Down 3/3
• Mar­ket Profile
  • Val­ues in DT
• LN Open
  • Prev. Day Exceed­ed ADR by 1.59
  • LN wider han NY
  • 1.78xASR Below Val­ue, Out­side Range
  • Huge Imbal­ance
  • Asia extend­ed to the upside
  • 0.58xASR IBR, B TPO moved low­er tak­ing out D1 demand

Addi­tion­al Notes

• Pos­si­ble Fri­day Profit-Taking

Hypos

• Hypo 1
  • Short
  • Late-Sus­tained Auction
• Hypo 2
  • Long
  • Failed Auc­tion
• 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