20221213 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 50 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, back with­in range after hav­ing made a HH
• W1
  • Price trad­ing below body, with­in range, below W1 QHi, at W1 50MA in R

Nar­ra­tive

• D1
  • Price trad­ed low­er form­ing a D1 Three Inside Down (base formed over the weekend)
  • Price trad­ing at D1 200MA, above D1 VWAP in UT
• H4
  • Price con­tin­ued low­er giv­ing H4-C‑S 1791.294 (with­in val­ue, at PPOC)
  • Pre­mar­ket formed some demand above H4 QLo (no touch) giv­ing H4-C‑D 1781.935
• Trend
  • Trend is UP 3/3
• Mar­ket Profile 
  • 2 over­lap­ping values
• LN Open
  • Prev. Day Exceed­ed ADR by 1.02
  • 0.10xASR below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia trad­ed higher
  • 0.28xASR IBR

Addi­tion­al Notes

• Thurs­day, Dec 15, Inter­est Rate Decisions

Hypos

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