25 Jul 20230725 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 30 Trad­ing Plan

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

Larg­er Timeframe

MN price trading:

Price is test­ing new­ly formed MN Sup­ply Momen­tum, cur­rent­ly trad­ing with­in body

W1 price trading:

W1 QHi reject­ed, price trad­ing mid swing

Price took out a W1 Sup­ply and closed as a Ham­mer although fail­ing to close above W1 VWAP in UT (pos­si­bil­i­ty for CAR)

Nar­ra­tive

D1

D1 QLo reject­ed, price trad­ing mid swing

Price pulling back to D1 VWAP in DT BO to CAS / D1-C‑D 1953.476

H4

H4 closed above H4 QLo and with­in new­ly formed supply

Trend

Trend is UP 3/3

Mar­ket Profile

2 over­lap­ping wide values 

LN Open

0.00 x ASR- With­in Value

Prev. Day Exceed­ed ADR by 1.05

Asia trad­ed higher 

0.29xASR Tight IBR

Addi­tion­al Notes

Jul 27, USD, Fed Inter­est Rate Decision

Jul 27, EUR, ECB Inter­est Rate Decision

Hypo 1

Long

Failed Auc­tion

Hypo 2

Short

Late-Sus­tained Auction

Hypo 3

Short

Rever­sal

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

1

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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