23 Nov 20221123 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 47 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, out­side range, test­ing MN VWAP CAR is see­ing some reaction
• W1
  • Price trad­ing below body, out­side range
  • W1 QLo reject­ed price trad­ing mid swing

Nar­ra­tive

• D1
  • D1 QHi reject­ed, price trad­ing mid swing
  • Yes­ter­day formed an Invert­ed Hammer
• H4
  • H4 Bear Engulf at H4 VWAP in DT giv­ing H4-C‑S 1742.892 below VAL
  • Pos­si­ble H4 Phase 1 / 3
  • Pre­mar­ket formed a con­sol­i­da­tion and close high­er with­in sup­ply giv­ing H4-C‑D 1741.278 through Bull Engulf
  • D1/H4 QHi reject­ed, price trad­ing mid swing
• Trend
  • Mixed Trend
• Mar­ket Profile 
  • Val­ue cre­at­ed above the previous
• LN Open
  • LN wider than NY
  • 0.05xASR Below Val­ue, With­in Range
  • Mod­er­ate Imbalance
  • Asia trad­ed low­er but recov­ered before LN open
  • 0.36xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Rever­sal, pos­si­ble Sus­tained Auc­tion, risky with new­ly formed H4 demand, late-sus­tained auc­tion preferred
• Hypo 2
  • Long
  • Failed Auc­tion, pos­si­ble con­tin­u­a­tion through VAA
• Hypo 3
  • Long
  • Auc­tion Fade

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

• 2

Mind­ful Trad­ing (lack of sleep?)

• Tak­ing it easy

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram