20221220 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 51 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 slow­down below W1 QHi, trad­ing with­in body

Nar­ra­tive

• D1
  • D1 VWAP 200MA apex
  • Pos­si­ble D1 Phase 1 / 3
• H4
  • H4 Bear Engulf giv­ing H4-C‑S 1793.220 below VAL, with­in range
  • Some demand giv­en H4-C‑D 1786.840 
  • H4 QLo reject­ed, price trad­ing mid swing
• Trend
  • Trend is UP 2/3
• Mar­ket Profile 
  • Val­ue cre­at­ed above the the previous
• LN Open
  • Open With­in Value
  • Asia extend­ed higher
  • 0.83xASR Wide IBR trad­ing high­er tak­ing out H4 Sup­ply and exhaust­ing ADR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Rever­sal, pos­si­ble Failed Auction
• Hypo 2
  • Long
  • Strength From With­in IBR
• Hypo 3
  • Long
  • Failed Auc­tion
• Hypo 4
  • Short
  • Rever­sal, Pos­si­ble Auc­tion Fade

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