20230615 Premarket Prep Gold

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

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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:

Below Body — Below Range 

Nar­ra­tive

• D1
  • D1 closed as a Doji with longer sell­ing wick just above D1 demand
  • Price trad­ed low­er and took out said demand
• H4
  • H4-C‑S 1949.868 with­in val­ue at PPOC
  • Price closed below pre­vi­ous struc­ture low and took out D1 demand
• Trend
  • Trend is DOWN 2/3
• Mar­ket Profile 
  • Val­ue cre­at­ed below the pre­vi­ous although still with­in over­all range
• LN Open
  • 1.12 x ASR- Below Val­ue — Out­side Range
  • Prev. Day Exceed­ed ADR by 1.09
  • Large Imbal­ance
  • Asia trad­ed lower
  • ADR exhaus­tion not too far below although at MN demand HiDC
  • 0.42xASR IBR

Addi­tion­al Notes

• ECB Inter­est Rate Deci­sion today

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion
• Hypo 2
  • Long
  • Late-Sus­tained Auction
• Hypo 3
  • Short
  • Rever­sal — Pos­si­ble Failed Auction

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