20221209 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

See more

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, at MN VWAP
• W1
  • Price made a HH, is now trad­ing with­in body, at MN 50MA in R, near Wide W1 QHi

Nar­ra­tive

• D1
  • Price closed high­er but failed to close above D1 200MA, price test­ed D1-C‑S 1796.779
• H4
  • H4 QLo reject­ed, price trad­ing mid swing
  • Price ral­lied giv­ing H4-C‑D 1789.470 HiDC
  • Pre­mar­ket formed an Inside Bar
• Trend
  • Trend is UP 3/3
• Mar­ket Profile 
  • Val­ue cre­at­ed above the previous
• LN Open
  • 0.54xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia trad­ed higher
  • 0.18xASR Very Tight IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Late-Sus­tained Auction
• Hypo 2
  • Long
  • Rever­sal, pos­si­ble Failed Auc­tion, pos­si­ble continuation
• Hypo 3
  • Long
  • Return to Val­ue, pos­si­ble 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