20221206 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 49 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 made a HH trad­ing at MN VWAP and is cur­rent­ly trad­ing with­in Body
• W1
  • W1 retraced to pre­vi­ous week’s 50% mark after hav­ing made a HH with near-touch of W1 QHi (coin­cid­ing with W1 50MA in R)

Nar­ra­tive

• D1
  • D1 con­sol­i­da­tion with break down at D1-C‑S 1808.713, W1/D1 QHi giv­ing D1-C‑S 1796.779 (near Round No.)
  • Price trad­ing near D1 VWAP in UT
• H4
  • H4 QHi reject­ed, price trad­ing mid swing although not far above H4 QLo
  • Some demand cre­at­ed at H4 50MA in UT giv­ing H4-C‑D 1769.323
• Trend
  • Trend is UP 3/3
• Mar­ket Profile 
  • Val­ue cre­at­ed slight­ly below the previous
• LN Open
  • Prev. Day Exceed­ed ADR by 1.85
  • 1.63xASR Below Val­ue, Out­side Range
  • Huge Imbal­ance
  • Asia formed a Neu­tral Day
  • 0.26xASR Tight IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Late-Sus­tained Auc­tion, pos­si­ble Failed Auc­tion with continuation
• Hypo 2
  • Long
  • Late-Sus­tained Auction
• Hypo 3
  • Long
  • Auc­tion Fade
• Hypo 4
  • Short
  • 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

• Twit­ter
• Insta­gram