20230614 Premarket Prep Gold

#Fin­twit #XAUUSD #GOLD #VWAP #Kelt­ner #Mar­ket­Pro­file #Order­flow

⇧ More info with­in link ⇧

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 24 Trad­ing Plan

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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 — Trad­ing at W1 VWAP in UT

Nar­ra­tive

• D1
  • Pos­si­ble Phase 1 / 3
  • Price clos­ing below D1 VWAP in DT
  • Price failed to close with­in D1 demand
  • Wide D1/W1 QHi reject­ed, price trad­ing mid swing
• H4
  • H4 Three Out­side Up to pos­si­ble RBR
  • Trad­ing with­in H4 QLo
• Trend
  • Trend is DOWN 2/3
• Mar­ket Profile 
  • 3 over­lap­ping val­ues with­in over­all range
• LN Open
  • 1.26 x ASR- Below Val­ue — Out­side Range
  • Large to Huge Imbalance
  • Prev. Day Exceed­ed ADR by 1.55
  • Asia trad­ed higher
  • 0.50xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion
• Hypo 2
  • Long
  • Late-Sus­tained Auction 
• Hypo 3
  • Short
  • Auc­tion Fade
• Hypo 4
  • Short
  • Late-Sus­tained Auc­tion (sus­pect)

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

• 2

Mind­ful Trad­ing (1–5 Bad to Good)

• 3

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram