20221004 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 40 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
  • MN 50MA in UT being reactive
  • Price trad­ing with­in body
• W1
  • W1 Inside Bar, pos­si­ble devel­op­ing W1 Three Out­side Up
  • Price cur­ren­cy test­ing W1 Sup­ply base level

Nar­ra­tive

• D1
  • D1 RBR giv­ing D1-C‑D 1663.283 BASE with­in value
  • Price near­ing D1-C‑S 1719.360 coin­cid­ing with D1 50MA in DT
  • Price trad­ing with­in D1 QHi
• H4
  • Price trad­ing at H4 200MA in DT, closed above it in premarket
  • Price trad­ing with­in D1/H4 QHi
• Trend
  • Trend is Down
• Mar­ket Profile
  • 2 over­lap­ping values
• LN Open
  • Prev. Day Exceed­ed ADR by 1.47
  • Asia formed a Neu­tral Day
  • 2.27xASR Above Val­ue, Out­side Range
  • Huge Imbal­ance
  • 0.33xASR IBR
  • Open at W1 Sup­ply Base

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Rever­sal, pos­si­ble Failed Auction
• Hypo 2
  • Short
  • Sus­tained Auction
• Hypo 3
  • Long
  • Late-Sus­tained Auc­tion, very risky
• Hypo 4
  • 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