20221221 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, trad­ing above body, out­side range, at MN VWAP
• W1
  • Price trad­ing above body, with­in range, with­in Wide W1 QHi

Nar­ra­tive

• D1
  • Big D1 Bull Engulf clos­ing with­in Wide W1/D1 QHi, above pre­vi­ous high, below D1-C‑S 1819.901
• H4
  • Price fal­ter­ing with­in Wide W1/D1/H4 QHi
• Trend
  • Trend is UP 3/3
• Mar­ket Profile 
  • Wide val­ue cre­at­ed above the previous
• LN Open
  • Prev. Day Exceed­ed ADR by 1.71
  • 0.60xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed lower
  • 0.23xASR Tight IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Late-Sus­tained Auction
• Hypo 2
  • Long
  • Rever­sal, pos­si­ble Failed Auction
• Hypo 3
  • Short
  • Rever­sal, pos­si­ble Failed Auction
• Hypo 4
  • Long
  • Return to Val­ue, 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