20221216 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 but is now trad­ing above body, with­in range, at MN VWAP
• W1
  • Price made a HH but is now trad­ing below body, with­in range, see­ing a react­ing off W1 QHi

Nar­ra­tive

• D1
  • Huge D1 Three Inside Down giv­ing D1-C‑S 1807.532 at W1/D1 QHi tak­ing out D1 demand HiDC, cur­rent­ly trad­ing at D1 VWAP in UT coin­cid­ing with D1-C‑D 1770.923 HiDC
• H4
  • Pos­si­ble H4 Phase 4, some con­sol­i­da­tion at H4 LKC with longer sell­ing wicks, trad­ing with­in Wide H4 QLo
• Trend
  • Trend is UP 2/3
• Mar­ket Profile 
  • Val­ue cre­at­ed below the previous 
• LN Open
  • Prev. Day Exceed­ed ADR by 1.53
  • Open With­in Value
  • Asia trad­ed higher
  • 0.32xASR IBR
  • Pos­si­ble Fri­day Profit-Taking

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion
• Hypo 2
  • Short
  • Late-Sus­tained Auction
• Hypo 3
  • Long
  • Failed Auc­tion
• Hypo 4
  • Long
  • Late-Sus­tained Auction

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

• 2

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram