21 Oct 20221021 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

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, above MN QLo
• W1
  • W1 Bear Engulf, price trad­ing below body, below range, price get­ting close to poten­tial­ly take out W1 Demand End 1614.772
  • Price trad­ing above MN/W1 QLo

Nar­ra­tive

• D1
  • Price retraced and start­ed react­ing from with­in D1 QLo and closed as a pos­si­ble base deep­er with­in Wide D1 QLo
• H4
  • Big H4 Bear Engulf at H4 VWAP/LKC in DT and slight con­tin­u­a­tion low­er with­in Wide H4 QLo
• Trend
  • Trend is Down 3/3
• Mar­ket Profile
  • 2 over­lap­ping val­ues in DT
• LN Open
  • 0.44xASR Below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed lower
  • 0.57xASR IBR
  • LN wider than NY

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Return to Val­ue, Rever­sal, pos­si­ble Failed Auction
• Hypo 2
  • Short
  • Late-Sus­tained Auction
• Hypo 3
  • Long
  • Val­ue Acceptance
• Hypo 4
  • Long
  • Auc­tion Fade, pos­si­ble FA due to pop­ping of W1 demand

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