20221019 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 42 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 below body, with­in range
• W1
  • W1 Bear Engulf, price test­ed new­ly formed sup­ply and start­ed reacting

Nar­ra­tive

• D1
  • Price con­sol­i­dat­ing above D1 QLo
• H4
  • Pos­si­ble H4 Phase 1 / 3 at H4 QLo coin­cid­ing with H4 VWAP in DT
  • Pre­mar­ket broke and closed low­er below pre­vi­ous range. With­in H4 QLo
• Trend
  • Trend is Down 3/3
• Mar­ket Profile
  • 3‑day brack­et
• LN Open
  • 0.55xASR Below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia trad­ed lower
  • 0.51xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auction
• Hypo 2
  • Short
  • Late-Sus­tained Auction
• Hypo 3
  • Long
  • Auc­tion Fade
• 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