07 Nov 20221107 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 45 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • Price trad­ing above Body, with­in Range
• W1
  • Pos­si­ble W1 Phase 1 / 3
  • W1 Bull Engulf with longer buy­ing wick clos­ing with­in W1 Sup­ply LiDC
  • Price trad­ing above MN/W1 QLo

Nar­ra­tive

• D1
  • Big Bull Engulf clos­ing with­in W1/D1 Sup­ply LiDC coin­cid­ing with D1 50MA in DT
  • D1 QLo reject­ed, price trad­ing mid swing
• H4
  • H4 trad­ing with­in Wide H4 QHi above H4 UKC in R with­in supply
• Trend
  • Trend is Down 2/3
• Mar­ket Profile 
  • Val­ue cre­at­ed above the pre­vi­ous although still with­in over­all range
• LN Open
  • Day opened with a gap down
  • LN Wider than NY
  • Prev. Day Exceed­ed ADR by 1.84
  • 1.13xASR Above Val­ue, Out­side Range
  • Large to Huge Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed down
  • 0.63xASR IBR (pos­si­ble momentum)

Addi­tion­al Notes

• N.A.

Hypos

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

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

• 3

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram