18 May 20230518 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 2023 Week 20 Trad­ing Plan

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

Larg­er Timeframe

MN price trading:

Price has made a HH and is now with­in body

W1 price trading:

Below Body — Below Range — Pos­si­bly devel­op­ing a W1 Evening Star

Nar­ra­tive

• D1
  • Price closed deep­er with­in Wide D1 demand but failed to close with­in Wide D1 QLo
• H4
  • Price trad­ing with­in Wide H4 QLo
  • H4 con­sol­i­da­tion above Wide D1 QLo
• Trend
  • Trend is UP 2/3
• Mar­ket Profile 
  • Val­ues in DT
• LN Open
  • 0.43 x ASR- Below Val­ue — Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed lower
  • Frank­furt formed a Bull Engulf
  • H4 Bear Engulf in pre­mar­ket giv­ing H4-C‑S 1982.970
  • 0.35xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

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

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

• 1

Mind­ful Trad­ing (1–5 Bad to Good)

• 3

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram