07 Jun 20230607 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 — With­in Range 

W1 price trading:

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

Nar­ra­tive

• D1
  • Pos­si­ble D1 Phase 1 / 3
  • D1 Ham­mer below D1 VWAP in DT
  • Trad­ing at D1 LKC in UT, pos­si­ble devel­op­ing R
  • Wide D1/W1 QHi reject­ed, price trad­ing mid swing
• H4
  • H4 QLo reject­ed, price trad­ing mid swing
  • Con­sol­i­da­tion at H4 VWAP in R
• Trend
  • Mixed Trend
• Mar­ket Profile 
  • Wide val­ue cre­at­ed above the previous
• LN Open
  • 0.09 x ASR- Below Val­ue — With­in Range
  • Mod­er­ate Imbalance
  • Asia trad­ed higher
  • 0.20xASR Tight IBR
  • Pre­mar­ket formed a H4 Bear Engulf

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Rever­sal — Pos­si­ble Failed Auction
• Hypo 2
  • Long
  • Val­ue Acceptance
• Hypo 3
  • Short
  • Sus­tained Auction
• Hypo 4
  • Long
  • Auc­tion Fade

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

• 1

Mind­ful Trad­ing (1–5 Bad to Good)

• 3

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram