21 Jul 20230721 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

Price trad­ing above body, out­side range

Nar­ra­tive

D1

D1 Three Inside Down giv­ing D1-C‑S 1977.299 Momen­tum above D1 UKC in DT

D1 QLo reject­ed, price trad­ing mid swing

H4

H4 DBD reject­ing H4 QLo, price con­sol­i­dat­ing at H4 UKC in UT (in line with VWAP)

Trend

Trend is UP 3/3

Mar­ket Profile

Val­ues in UT

LN Open

0.76 x ASR- Below Val­ue — Out­side Range

Mod­er­ate to Large Imbalance

Prev. Day Exceed­ed ADR by 1.40

Asia trad­ed lower

0.58xASR IBR

Addi­tion­al Notes

Pos­si­ble Fri­day Profit-Taking

Hypo 1

Long

Rever­sal — Pos­si­ble Failed Auction

Hypo 2

Short

Failed Auc­tion

Hypo 3

Long

Auc­tion Fade

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

2

Mind­ful Trad­ing (1–5 Bad to Good)

3

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

Lex­i­con

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