20221208 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 trad­ing above body, with­in range, at MN VWAP
• W1
  • Price trad­ing with­in body, retraced to 50% mark,
  • Price trad­ing below W1 QH, W1 50MA in R

Nar­ra­tive

• D1
  • D1 Three Out­side Up at D1 VWAP in UT giv­ing D1-C‑D 1770.923 Momen­tum below VAL
  • Price trad­ing below D1 200MA
• H4
  • H4 Three Out­side Down giv­ing H4-C‑S 1787 Momen­tum fol­lowed by some consolidation
• Trend
  • Trend is UP 3/3
• Mar­ket Profile 
  • 2 over­lap­ping values
• LN Open
  • Prev. Day Exceed­ed ADR by 1.01
  • 0.87xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia trad­ed lower
  • 0.30xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

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

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