20221006 Premarket Prep Gold

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20221006 Pre­mar­ket Prep Gold

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
  • Price trad­ing above body, but with­in range
• W1
  • W1 retraced to W1 Sup­ply Base lev­el and is trad­ing above

Nar­ra­tive

• D1
  • D1 Ham­mer at D1 50MA in DT coin­cid­ing with D1-C‑S 1719.360
  • Price trad­ing with­in D1 QHi, with­in D1 Supply
• H4
  • H4 Bull Engulf and RBR giv­ing H4-C‑D 1712.719 High in Dist. Curve (with­in val­ue below VAH) fol­lowed by anoth­er poten­tial base
  • Price trad­ing with­in Wide D1/H4 QHi
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • 2 over­lap­ping val­ues after UT
• LN Open
  • Prev. Day trad­ed 0.94xADR
  • 0.31xASR Above Val­ue, With­in Range
  • Mod­er­ate Imbalance
  • Asia trad­ed higher
  • 0.30xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Rever­sal, pos­si­ble failed auction
• Hypo 2
  • Long
  • (Late-)Sustained Auc­tion, risky
• Hypo 3
  • Long
  • Return to Val­ue, Rever­sal, pos­si­ble 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