26 Jul 20240726 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 2024 Week 30 Trad­ing Plan

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

Nar­ra­tive

D1

Price trad­ing with­in QLo

Price closed deep with­in D1 QLo slight­ly with­in D1 demand (coin­cid­ing with D1 50MA R)

H4

Price trad­ing with­in QLo

H4 Three Inside Up at 200MA R/ H4/D1 Demand fail­ing to close above Wide D1/H4 QLo but did close with­in H‑C-S 2372.09 LiDC (with­in Val­ue) pro­ceed­ing to form an Inside Bar

Trend

Trend is UP 2/3

Mar­ket Profile

Val­ue cre­at­ed below the previous

LN Open

Below Val­ue — With­in Range ambigu­ous open

Mod­er­ate Imbalance

Prev. Day Exceed­ed ADR — Yes

Asia trad­ed — higher

IBR — Tight

A and B TPO accept­ed value

Addi­tion­al Notes

N.A.

Hypo 1

Short

Rever­sal — Pos­si­ble Failed Auction

Hypo 2

Long

Val­ue Accep­tance — Risky with two Bear Engulfs with­in Val­ue. If sce­nario plays out try a poten­tial con­tin­u­a­tion play in the form of LSA

Hypo 3

Short

Sus­tained Auc­tion — care­ful with D1 demand below 

Hypo 4

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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