05 Aug 20240805 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:
The purpose of a premarket prep is to find setups within my weekly trade plan bias
Narrative
D1
Price trading at QHi
Possible Rally Pullback Rally, price tested VWAP already
H4
Price trading at QLo
Some demand at H4 VWAP UT but price closed back within
Trend
Trend is UP 2/3
Market Profile
Values in UT
LN Open
Below Value — Outside Range
Huge Imbalance
Prev. Day Exceeded ADR — Yes
Asia traded — higher
IBR — Wide
ADR Exhausted
Additional Notes
N.A.
Hypo 1
Long
Reversal — Possible Failed Auction
Hypo 2
Short
Weakness From Within IBR
Hypo 3
Short
Reversal — Possible Failed Auction
Hypo 4
Short
Late-Sustained Auction
Clarity / Confidence (1 — 5, low to high)
2
Mindful Trading (1–5 Bad to Good)
2
Don’t know what all the abbreviations are? Check out my lexicon:
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