26 Sep 20220926 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 39 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • Price trad­ing below body, below range trad­ing at MN 50MA in UT
  • Price near­ing MN QLo
• W1
  • Price trad­ing below body, below range test­ing OLD W1-C‑D 1625.456 BASE
  • Price near­ing MN/W1 QLo

Nar­ra­tive

• D1
  • Price took out some old D1 demand
• H4
  • H4 con­sol­i­da­tion
• Trend
  • Trend is Down 3/3
• Mar­ket Profile
  • Wide val­ue cre­at­ed below pre­vi­ous brack­et­ing range
• LN Open
  • Prev. Day Exceed­ed ADR by 1.36
  • 0.23xASR Below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed lower
  • 0.77xASR Wide IBR
  • A Accept­ed Val­ue, but with it being wide it prob­a­bly won’t fol­low the same rules

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion
• Hypo 2
  • Long
  • Strength From With­in IBR (pos­si­ble for­ward-test with­out IBR extension)
• Hypo 3
  • Short
  • Rever­sal, pos­si­ble ASR/ADR Exhaustion
• Hypo 4
  • Long
  • 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