20 Apr 20230420 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

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Larg­er Timeframe

MN price trading:

Above Body — With­in Range — With­in Sup­ply — With­in QHi -

W1 price trading:

Below Body — With­in Range — With­in Sup­ply — With­in QHi — Wide Q

Nar­ra­tive

• D1
  • Pos­si­ble start D1 con­sol­i­da­tion although leav­ing a long buy­ing wick at D1 VWAP in UT
  • Price trad­ing with­in Wide D1 QHi
• H4
  • 2nd test of H4-C‑S 2007.484
  • Big H4 Bull Engulf after test of W1-C‑D 1973.367 HiDC reject­ing H4 QLo now trad­ing mid swing
  • H4 Bull Engulf formed in pre­mar­ket giv­ing H4-C‑D 1994.336
• Trend
  • Trend is UP 2/3
• Mar­ket Profile 
  • Wide val­ue cre­at­ed in DT, V‑shaped correction
• LN Open
  • Above Val­ue — Out­side Range 0.79xASR
  • Mod­er­ate to Large Imbalance
  • Asia trad­ed higher
  • Prev. Day Exceed­ed ADR by 1.42
  • 0.25xASR IBR

Addi­tion­al Notes

• N.A. 

Hypos

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

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

• 1

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram