20221108 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 45 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 above body, with­in range
• W1
  • Pos­si­ble W1 Phase 1 / 3
  • Price trad­ing with­in body
  • Price trad­ing above MN/W1 QLo

Nar­ra­tive

• D1
  • D1 Spin­ning Top after a big up day still trad­ing with­in D1 Sup­ply at D1 50MA in DT
  • D1 QLo reject­ed, price trad­ing mid swing
• H4
  • Price fal­ter­ing with­in Wide H4 QHi giv­ing H4-C‑S 1676.942 (with­in Value)
  • Price trad­ing with­in H4 Demand HiDC
• Trend
  • Trend is Down 2/3
• Mar­ket Profile 
  • Val­ue cre­at­ed above the previous
• LN Open
  • LN wider than NY
  • 0.29xASR Below Val­ue, With­in Range
  • Mod­er­ate Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed lower
  • 0.34xASR IBR clos­ing below Asia, below range

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Sus­tained Auction
• Hypo 2
  • Short
  • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auction
• Hypo 3
  • Long
  • Rever­sal, Auc­tion Fade
• Hypo 4
  • Long
  • Failed Auc­tion (for­ward-test­ing narrative)

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