20221207 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 but is now trad­ing with­in body, at MN VWAP
• W1
  • Price retraced back with­in body to 50% mark of the pre­vi­ous week after hav­ing made a HH 

Nar­ra­tive

• D1
  • D1 Con­sol­i­da­tion and break down below W1/D1 QHi, Invert­ed Ham­mer formed above D1 VWAP in UT
• H4
  • Some H4 Phase 1 / 3 above H4 50MA in UT
  • H4 QHi reject­ed, price trad­ing mid swing
  • Some sup­ply giv­ing H4-C‑S 1772.410 with­in val­ue at PPOC
• Trend
  • Trend is UP 3/3
• Mar­ket Profile 
  • Wide val­ue cre­at­ed below the previous
• LN Open
  • Open With­in Value
  • Asia formed a Neu­tral Day but most­ly trad­ed higher
  • 0.34xASR IBR

Addi­tion­al Notes

• N.A. 

Hypos

• Hypo 1
  • Short
  • Rever­sal, pos­si­ble Failed Auction
• Hypo 2
  • Long
  • Failed Auc­tion
• Hypo 3
  • Long
  • Late-Sus­tained Auction
• Hypo 4
  • Short
  • Late-Sus­tained Auction

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

• 1

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram