02 Aug 20240802 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 31 Trad­ing Plan

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

Nar­ra­tive

D1

Price trad­ing with­in QHi

D1 Inside Bar, pos­si­ble speed­bump / base fail­ing to close with­in Wide D1 QHi

H4

Price trad­ing with­in QHi

Some pos­si­ble H4 Phase 1 below Wide H4/D1 QHi and closed deep­er with­in QHi and D1 Supply 

Trend

Trend is UP 3/3

Mar­ket Profile

Val­ues in UT

Wide val­ue

LN Open

Above Val­ue — Out­side Range

Huge Imbal­ance

Prev. Day Exceed­ed ADR — No but at 99%

Asia trad­ed — higher

IBR — Normal

ADR Exhaust­ed dur­ing Asia

Addi­tion­al Notes

Non-Farm Pay­roll today

Hypo 1

Short

Late-Sus­tained Auction

Hypo 2

Long

Rever­sal — Pos­si­ble Failed Auction

Hypo 3

Long

Late-Sus­tained Auction

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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