17 May 20230517 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 20 Trad­ing Plan

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

Larg­er Timeframe

MN price trading:

With­in Body — Price made a HH and is now trad­ing with­in body

W1 price trading:

Below Body — Below Range 

Nar­ra­tive

• D1
  • D1 con­tin­u­a­tion giv­ing D1-C‑S 2010.761 BASE (right above VAH) clos­ing with­in Wide D1 demand and below D1 50MA in UT
  • Price near­ing D1 QLo
• H4
  • Price trad­ing with­in OLD H4 demand with­in WIde H4 QLo
• Trend
  • Trend is UP 2/3
• Mar­ket Profile 
  • Val­ue cre­at­ed below the previous
• LN Open
• 1.05 x ASR- Below Val­ue — Out­side Range
• Large Imbal­ance
• Prev. Day Exceed­ed ADR by 1.47
• Asia formed a Neu­tral Day
• 0.18xASR Very Tight IBR

Addi­tion­al Notes

• N.A. 

Hypos

• Hypo 1
  • Long
  • Failed Auc­tion (to pos­si­ble SA)
• Hypo 2
  • Long
  • Auc­tion Fade
• Hypo 3
  • Short
  • Late-Sus­tained Auction

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

• 1

Mind­ful Trad­ing (1–5 Bad to Good)

• 1

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram