26 Oct 20221026 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 is trad­ing below body, with­in range, above MN QLo
• W1
  • W1 Bear Engulf fol­lowed by an Inside Bar with longer buy­ing wick almost tak­ing out W1 Demand End 1614.772
  • Price trad­ing above MN/W1 QLo

Nar­ra­tive

• D1
  • D1 Inside Bar fol­lowed by a Near-Doji with longer buy­ing wick, pos­si­ble Base
• H4
  • BIg Bull Engulf giv­ing H4-C‑D 1650 coin­cid­ing with H4 VWAP BO to CAS
  • Price trad­ing with­in Wide H4 QHi, get­ting close to take it out (IB took it out and estab­lished a new one)
  • Price trad­ing at H4 200MA in DT
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • 2 over­lap­ping values
• LN Open
  • LN wider than NY
  • 1.08xASR Above Val­ue, Out­side Range
  • Large Imbal­ance
  • Asia formed a Neu­tral Day but most­ly trad­ed higher
  • 0.40xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

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