19 May 20230519 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 an All-Time High and start­ed reacting

W1 price trading:

Pos­si­bly devel­op­ing a W1 Evening Star and is trad­ing at W1-C‑D 1973.367 HiDC

Nar­ra­tive

• D1
  • Price took out D1 demand and is trad­ing with­in D1-C‑D 1965.526 coin­cid­ing with D1 LKC in UT
  • Price trad­ing with­in Wide D1 QLo
• H4
  • Price see­ing some pull­back with­in D1 demand
  • Price trad­ing with­in Wide H4/D1 QLo
• Trend
  • Trend is DOWN 2/3
• Mar­ket Profile 
  • Val­ues in DT
• LN Open
  • 0.56 x ASR- Below Val­ue — Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed higher
  • Pos­si­ble Fri­day Profit-Taking
  • Prev. Day Exceed­ed ADR by 1.53
  • 0.21xASR Tight IBR

Addi­tion­al Notes

• N.A. 

Hypos

• Hypo 1
  • Short
  • Rever­sal — Pos­si­ble Failed Auc­tion to pos­si­ble SA
• Hypo 2
  • Long
  • Late-Sus­tained Auction
• Hypo 3
  • Long
  • Auc­tion Fade

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

• 1

Mind­ful Trad­ing (1–5 Bad to Good)

• 2

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram