20221215 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 and is trad­ing above body, out­side range, at MN VWAP
• W1
  • Price made a HH test­ing W1 QHi and is trad­ing below body with­in range

Nar­ra­tive

• D1
  • D1 Ham­mer formed below W1/D1 QHi, price cur­rent­ly prob­ing D1 Demand HiDC
  • D1 Demand End 1777.456 just above D1 VWAP in UT
  • Price trad­ing at D1 200MA
• H4
  • H4 con­sol­i­da­tion below W1/D1/H4 QHi and break low­er clos­ing with­in D1 demand HiDC, cur­rent­ly test­ing Wide H4 QLo
• Trend
  • Trend is UP 3/3
• Mar­ket Profile 
  • Val­ue cre­at­ed above the previous
• LN Open
  • Prev. Day trad­ed 0.94xADR
  • 1.12xASR Below Val­ue, Out­side Range
  • Large to Huge Imbalance
  • Asia trad­ed lower
  • ADR got exhaust­ed in premarket
  • 1.01xASR Wide IBR tak­ing out D1 Demand End

Addi­tion­al Notes

• Inter­est Rate Deci­sions today

Hypos

• Hypo 1
  • Long
  • Failed Auc­tion
• Hypo 2
  • Short
  • Weak­ness From With­in IBR (for­ward-test rever­sal with­in IBR)
• Hypo 3
  • Short
  • Late-Sus­tained Auction
• Hypo 4
  • Long
  • Auc­tion Fade

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

• 2

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay, but tak­ing it easy

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram