27 Oct 20221027 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 with­in body
• W1
  • Price is trad­ing above body, with­in range after hav­ing made a HH with­in new­ly formed W1 Sup­ply LiDC (Low in Dis­tri­b­u­tion Curve)
  • Price trad­ing above MN/W1 QLo

Nar­ra­tive

• D1
  • D1 Morn­ing Star formed above D1 QLo giv­ing D1-C‑D 1652.328 Momen­tum although price failed to close with­in W1/D1 Sup­ply LiDC
• H4
  • Price test­ed H4 200MA in DT (coin­cid­ing with H4 QHi) and start­ed faltering
  • Price com­ing from H4 VWAP BO to CAS, pos­si­ble continuation
  • H4 closed below H4 QHi leav­ing meany sell­ing wicks
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • Val­ue cre­at­ed above the previous
• LN Open
  • Prev. Day trad­ed 0.92xADR, pos­si­ble ADR momentum
  • LN wider than NY, move of the day might hap­pen dur­ing LN
  • 0.38xASR Below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day
  • 0.25xASR Tight IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auc­tion, pos­si­ble con­tin­u­a­tion lower
• Hypo 2
  • Long
  • Late-Sus­tained Auc­tion, mon­i­tor for Val­ue Acceptance
• Hypo 3
  • Long
  • Auc­tion Fade, fol­low-up to Hypo 1

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