30 May 20230530 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 23 Trad­ing Plan

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

Larg­er Timeframe

MN price trading:

Below Body — Below Range — Price trad­ing above MN-C‑D 1926.743 Base HiDC

W1 price trading:

Below Body — Below Range — Mid Swing — Wide Q — Price trad­ing at W1 VWAP in UT

Nar­ra­tive

• D1
  • Wide D1/W1 QHi reject­ed, price trad­ing mid swing
  • Pos­si­ble D1 Phase 4 tak­ing out D1 demand
  • D1 con­sol­i­da­tion giv­ing D1-C‑S 1943.927 (at VAL)
• H4
  • H4 VWAP in DT TC
• Trend
  • Trend is DOWN 2/3
• Mar­ket Profile 
  • Val­ues in DT
• LN Open
  • 0.52 x ASR- Below Val­ue — Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day but trad­ed lower
  • 0.54xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Rever­sal — Pos­si­ble Failed Auction
• Hypo 2
  • Long
  • Late-Sus­tained Auction

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

• 2

Mind­ful Trad­ing (1–5 Bad to Good)

• 2

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram