20221014 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

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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 with­in body
• W1
  • W1 Three Out­side Up with longer sell­ing wick, price test­ing new­ly formed demand of W1-C‑D 1660.658
  • W1 QHi reject­ed, price trad­ing mid swing

Nar­ra­tive

• D1
  • Price reached a D1 Base lev­el at 1660.658 coin­cid­ing with W1 momen­tum demand
  • Pos­si­ble con­sol­i­da­tion, although price closed as a weak Bear Engulf with a long buy­ing wick
• H4
  • Pos­si­ble H4 phase 1 / 3
• Trend
  • Trend is Down 3/3
• Mar­ket Profile
  • 3‑day brack­et although yesterday’s slight­ly above the previous
• LN Open
  • Prev. Day Exceed­ed ADR by 1.65
  • 0.13xASR Below Val­ue, With­in Range
  • Mod­er­ate Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed higher
  • 0.39xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

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