21 Jun 20230621 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 25 Trad­ing Plan

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

Larg­er Timeframe

MN price trading:

Price trad­ing below body with­in range after hav­ing made a LL

Some reac­tion at MN demand HiDC

W1 price trading:

Trad­ing below body, with­in range

Wide W1 QHi reject­ed, price trad­ing mid swing 

Nar­ra­tive

D1

Price closed deep with­in D1 Demand Momentum

Wide D1/W1 QHi reject­ed, price trad­ing mid swing

H4

Big move down to con­sol­i­da­tion, pos­si­ble dead cat bounce

Price trad­ing with­in H4 QLo

Trend

Mixed Trend

Mar­ket Profile

2 over­lap­ping val­ues below the previous 

LN Open

1.16 x ASR- Below Val­ue — Out­side Range

Large to Huge Imbalance

Prev. Day Exceed­ed ADR by 1.45

Asia formed a Neu­tral Day but trad­ed lower

0.26xASR Tight IBR

Addi­tion­al Notes

N.A.

Hypo 1

Short

Rever­sal — Pos­si­ble Failed Auction

Hypo 2

Long

Late-Sus­tained Auction

Hypo 3

Short

Late-Sus­tained Auction

Hypo 4

Long

Auc­tion Fade

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

2

Mind­ful Trad­ing (1–5 Bad to Good)

3

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