29 Sep 20220929 Premarket Prep Gold

#Fin­twit #XAUUSD #GOLD #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 2022 Week 39 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • Price trad­ing below body, below range, at MN 50MA in UT
• W1
  • Price made a LL but is cur­rent­ly trad­ing with­in body
  • Price trad­ing above MN/W1 QLo
  • Price has test­ed a W1 demand base level

Nar­ra­tive

• D1
  • D1 Three Out­side Up at W1 Demand Base
• H4
  • H4 Three Inside Down at H4 50MA in DT TC giv­ing H4-C‑S 1657.558 although trad­ing above H4 VWAP in DT
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • Wide val­ue cre­at­ed below the previous
• LN Open
  • Prev. Day Exceed­ed ADR by 1.65
  • 1.23xASR Above Val­ue, Out­side Range
  • Large to Huge Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed lower
  • 0.37xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion, pos­si­ble continuation
• Hypo 2
  • Long
  • Late-Sus­tained Auction
• Hypo 3
  • Long
  • Rever­sal, Auc­tion Fade
• Hypo 4
  • Short
  • Auc­tion Fade

Clar­i­ty / Con­fi­dence (1 — 5, low to high)

• 1

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals
  • Use SL scaling

• Twit­ter
• Insta­gram