#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:
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, price getting near MN VWAP
- W1
- W1 QLo rejected, price trading mid swing
- Inside bar to Hammer
- W1 VWAP BO, price trading above
Narrative
- D1
- D1 QHi rejected, price formed a Long-Legged Doji below D1 QHi
- H4
- H4 QLo rejected, price trading mid swing
- H4 Bear Engulf at D1 QHi with no continuation, instead multiple tests
- Trend
- Mixed Trend
- Market Profile
- Value created below the precious
- LN Open
- LN wider than NY
- Open Within Value
- Asia traded lower but returned to IB
- 0.87xASR Wide IBR
- A TPO closed above VAH, B TPO made a HH
Additional Notes
- N.A.
Hypos
- Hypo 1
- Short
- Failed Auction
- Hypo 2
- Long
- Strength From Within IBR
- Hypo 3
- Long
- Late-Sustained Auction
- Hypo 4
- Short
- Reversal, Auction Fade
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