24 Oct 20221024 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 43 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, trad­ing at MN 50MA in UT, above MN QLo
• W1
  • W1 Inside Bar with long buy­ing wick (that almost took out W1 Demand End), price trad­ing above body, with­in range after mak­ing a HH

Nar­ra­tive

• D1
  • Big D1 Bull Engulf clos­ing above D1 QLo, price test­ing W1/D1 Supply
• H4
  • Price took out some sup­ply but then react­ed off a high­er sup­ply clos­ing as an Invert­ed Ham­mer clos­ing below H4 QHi
  • Pre­mar­ket formed a lit­tle base
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • Val­ues in DT
• LN Open
  • Prev. Day Exceed­ed ADR by 1.50
  • 1.69 ASR Above Val­ue, Out­side Range
  • Huge Imbal­ance
  • Asia trad­ed down
  • 0.58xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Sus­tained Auction
• Hypo 2
  • Long
  • Failed Auc­tion
• Hypo 3
  • Long
  • Rever­sal, Auc­tion Fade
• Hypo 4
  • Long
  • Late-Sus­tained Auction

Clar­i­ty / Con­fi­dence (1 — 5, low to high)

• 2

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing a bit tired, will take it easy

Focus Points for trad­ing development

• Month­ly Goals
  • Use SL scaling

• Twit­ter
• Insta­gram