10 Nov 20221110 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

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
  • Price trad­ing above body, out­side range, at W1 VWAP in DT, with­in Supply
  • Price returned to a W1 Sup­ply Base Level

Nar­ra­tive

• D1
  • D1 Inside Bar with longer sell­ing wick react­ing off D1 Sup­ply, trad­ing at D1 UKC in DT
  • Price trad­ing with­in D1 QHi
• H4
  • Pos­si­ble H4 Phase 1 / 3 with­in H4/D1 QHi
• Trend
  • Trend is Down 2/3
• Mar­ket Profile 
  • Val­ue cre­at­ed extend­ed above the previous
• LN Open
  • Open With­in Value
  • Asia trad­ed higher
  • 0.32xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

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

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

• 1

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay, a bit rushed due to oth­er work

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram