08 Jun 20230608 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:

With­in Body — W1 Ham­mer at W1 VWAP in UT — Mid swing

Nar­ra­tive

• D1
  • D1 Bear Engulf at D1-C‑S 1971.56 coin­cid­ing with D1 VWAP in DT clos­ing with­in D1-C‑D 1944.081
  • Wide D1/W1 QHi reject­ed, price trad­ing mid swing
  • Pos­si­ble D1 Phase 1 / 3
• H4
  • H4 Bull Engulf with­in H4 QLo fail­ing to close above
  • Pos­si­ble H4 R
• Trend
  • Mixed Trend
• Mar­ket Profile 
  • Wide val­ue cre­at­ed over­lap­ping the previous
• LN Open
  • 0.94 x ASR- Below Val­ue — Out­side Range
  • Large Imbal­ance
  • Prev. Day Exceed­ed ADR by 1.46
  • Asia trad­ed higher
  • 0.28xASR Tight IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Sus­tained Auction
• Hypo 2
  • Short
  • Failed Auc­tion — mon­i­tor for pos­si­ble FA to SA
• Hypo 3
  • Short
  • Auc­tion Fade
• Hypo 4
  • Short
  • Late-Sus­tained Auction

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