21 Jul 20230719 Premarket Prep Gold

⇧ Detailed plan with HYPOS out­lined with­in link ⇧

#Fin­twit #XAUUSD #GOLD #VWAP #Kelt­ner #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 29 Trad­ing Plan

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

Larg­er Timeframe

MN price trading:

Price retraced to new­ly formed MN Sup­ply Momen­tum level

W1 price trading:

Price took out W1-C‑S 1957.540

W1 QHi reject­ed, price trad­ing mid swing

Nar­ra­tive

D1

New Demand giv­ing D1-C‑D 1953.476 (coin­cid­ing with D1 50MA in DT BO to CAS) and close higher

W1/D1 QHi reject­ed, price trad­ing mid swing

H4

Price took out H4 swing and estab­lished a new (again) Wide H4 QHi, price trad­ing within

Trend

Trend is UP 3/3 

Mar­ket Profile

Val­ue cre­at­ed above the previous

LN Open

0.84 x ASR- Above Val­ue — Out­side Range

Mod­er­ate to Large Imbalance

Asia trad­ed lower

0.31xASR IBR

Addi­tion­al Notes

N.A.

Hypo 1

Long

Rever­sal — Pos­si­ble Failed Auc­tion — mon­i­tor for SA

Hypo 2

Short

Late-Sus­tained Auction

Hypo 3

Short

Rever­sal — Pos­si­ble Failed Auction

Hypo 4

Long

Auc­tion Fade

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

1

Mind­ful Trad­ing (1–5 Bad to Good)

2

Don’t know what all the abbre­vi­a­tions are? Check out my lexicon:

Lex­i­con

Check me out on oth­er plat­forms as well:

• Twit­ter
• Insta­gram