08 Aug 20240808 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 32 Trad­ing Plan

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

Nar­ra­tive

D1

Price trad­ing at QLo

Price failed to close with­in D1 QLo

H4

QLo reject­ed, price mid swing

H4 Bull ENgulf again clos­ing above QLo, price below H4 VWAP DT

Trend

Trend is UP 2/3

Mar­ket Profile

Val­ue cre­at­ed below the previous

LN Open

With­in Value

Prev. Day Exceed­ed ADR — No

Asia trad­ed — higher

IBR — Tight

Addi­tion­al Notes

N.A.

Hypo 1

Long

Rever­sal — Pos­si­ble Failed Auction

Hypo 2

Short

Rever­sal — Pos­si­ble Failed Auction

Hypo 3

Long

Late-Sus­tained Auction

Hypo 4

Short

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

Check me out on oth­er plat­forms as well:

• Twit­ter
• Insta­gram