19 Sep 20220919 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 38 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • Price took out MN demand
  • Price is cur­rent­ly trad­ing below body and range
  • Price near­ing MN 50MA in UT
• W1
  • W1 DBD giv­ing W1-C‑S 1710.087 BASE (near Round No.)
  • Price closed at W1 200MA in UT
  • Price trad­ing below body, but with­in range

Nar­ra­tive

• D1
  • D1 VWAP in DT TC with con­tin­u­a­tion clos­ing lower
  • D1 Inside Bar
• H4
  • H4 Bull Engulf and con­tin­u­a­tion high­er giv­ing H4-C‑D 1663.773 with­in val­ue, below VAH
  • H4 VWAP in DT TC giv­ing H4-C‑S 1675.712
• Trend
  • Trend is Down 3/3
• Mar­ket Profile
  • Val­ues in DT
• LN Open
  • Prev. Day Exceed­ed ADR by 1.06
  • LN wider than NY
  • 0.01xASR Above Val­ue, With­in Range, Ambigu­ous Open
  • Asia trad­ed lower
  • 0.44xASR IBR
  • A TPO closed low­er with­in val­ue, B formed an Inside Bar react­ing off H4 demand

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Val­ue Accep­tance, risky with demand
• Hypo 2
  • Long
  • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auction
• Hypo 3
  • Short
  • Failed Auc­tion
• Hypo 4
  • Short
  • 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