20230412 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 2023 Week 15 Trad­ing Plan

See more

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, above range, with­in MN Sup­ply, with­in MN QHi
• W1
  • Price trad­ing above body, with­in range, with­in W1 Sup­ply, with­in W1 QHi 

Nar­ra­tive

• D1
  • Price start­ed react­ing off D1 Sup­ply after a Bull­ish Inside bar was formed yes­ter­day giv­ing D1-C‑D 2003.630 MOM
• H4
  • H4 Invert­ed Ham­mer at D1 Supply
• Trend
  • Trend is UP 3/3
• Mar­ket Profile 
  • 2 over­lap­ping values
• LN Open
  • 0.56xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • 0.34xASR IBR
  • Asia trad­ed High­er but pulled back and closed below H4/M30 QHi

Addi­tion­al Notes

• Mar­ket Pro­file was set to the wrong time and thus info is incorrect

Hypos

• Hypo 1
  • Long
  • Pos­si­ble Return to Val­ue, Rever­sal or Failed Auction
• Hypo 2
  • Short
  • Late-Sus­tained Auc­tion, pos­si­ble weak­ness from with­in IBR, mon­i­tor for continuation
• Hypo 3
  • Long
  • Auc­tion Fade

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

• 1

Mind­ful Trad­ing (lack of sleep?)

• Still feel­ing a bit under the weather
• Not going to take riski­er trades
• I will focus on the 2nd DTTZ

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram