03 Aug 20230803 Premarket Prep Gold

⇧ Detailed Trad­ing Plan for Lon­don Ses­sion 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 31 Trad­ing Plan

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

Larg­er Timeframe

MN price trading:

MN Bull­ish Inside Bar / pos­si­ble consolidation

Price trad­ing with­in body

W1 price trading:

W1 Spin­ning Top at W1 VWAP in UT pos­si­ble CAR

Price trad­ing below body, below range, mid swing after W1 QHi

Nar­ra­tive

D1

D1 Bear Engulf clos­ing below VWAP in UT pos­si­ble new R giv­ing D1-C‑S 1960.086

Price near­ing D1 QLo (after D1 QLo rejec­tion) and D1 200MA in UT

H4

Big H4 Bear Engulf at H4-C‑S 1950 at PPOC

H4 QHi reject­ed, price trad­ing just above H4 QLo

Trend

Trend is UP 2/3

Mar­ket Profile

Val­ue cre­at­ed below the previous

LN Open

1.13 x ASR- Below Val­ue — Out­side Range

Large to Huge Imbalance

Prev. Day Exceed­ed ADR by 1.27

Asia trad­ed low­er but formed a Neu­tral Day

0.56xASR IBR

Addi­tion­al Notes

NFP tomor­row

Hypo 1

Long

Late-Sus­tained Auction

Hypo 2

Short

Rever­sal — Pos­si­ble Failed Auction

Hypo 3

Short

Auc­tion Fade

Hypo 4

Long

Sus­tained Auction

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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