20221012 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 41 Trad­ing Plan

See more

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

Larg­er Timeframe

• MN
  • Price start­ed react­ing off MN 50MA in UT and start­ed trad­ing high­er extend­ing to the upper range although now cur­rent­ly trad­ing with­in body again.
• W1
  • W1 Three Out­side Up giv­ing W1-C‑D 1660.658 Momen­tum (a retrace­ment could be a sign to the oppos­ing side)
  • Price is cur­rent­ly trad­ing with­in body test­ing new­ly formed W1 demand

Nar­ra­tive

• D1
  • D1 50MA in DT TC reject­ing D1 QHi with price clos­ing low­er test­ing new­ly formed W1 demand coin­cid­ing with D1 Base demand lev­el, pos­si­ble con­tin­u­a­tion to orig­i­nat­ing lev­el of 1625.693
• H4
  • H4 QHi reject­ed, price trad­ing mid swing
  • Pos­si­ble H4 Phase 1 / 3 above W1 demand
  • H4 Bull Engulf giv­ing H4-C‑D 1666.083 clos­ing above range
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • Val­ues in DT
• LN Open
  • 0.25xASR Above Val­ue, With­in Range
  • Mod­er­ate Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed higher
  • 0.36xASR IBR
  • A TPO accept­ed val­ue but might react off new­ly formed H4 demand

Addi­tion­al Notes

• N.A.

Hypos

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