20221214 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 made a HH, trad­ing at MN VWAP
• W1
  • Price made a HH test­ing Wide W1 QHi

Nar­ra­tive

• D1
  • Big D1 Bull Engulf giv­ing D1-C‑D 1794.648 HiDC at D1 200MA fail­ing to close with­in Wide W1/D1 QHi leav­ing a sell­ing wick
• H4
  • Big H4 RBR clos­ing slight­ly above pre­vi­ous swing high although clos­ing with a sell­ing wick
  • Price slow­ing down below W1/D1 QHi
• Trend
  • Trend is UP 3/3
• Mar­ket Profile 
  • Val­ue cre­at­ed below the previous 
• LN Open
  • Prev. Day Exceed­ed ADR by 2.20
  • 1.27xASR Above Val­ue, Out­side Range
  • Large to Huge Imbalance
  • Asia formed a Neu­tral Day trad­ing sideways
  • 0.22xASR Tight IBR

Addi­tion­al Notes

• Inter­est rate deci­sions tomorrow

Hypos

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

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

• 1

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay but will take it easy

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram