12 Aug 20240812 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
QLo rejected, price mid swing nearing QHi
H4
Price trading within QHi
H4 Bull Engulf closing within Wide H4 QHi giving H4-C‑D 2430.35 HiDC above VAH
Old H4 supply within QHi
Trend
Trend is UP 3/3
Market Profile
Value created above the previous
LN Open
Above Value — Outside Range
Moderate to Large Imbalance
Prev. Day Exceeded ADR — No
Asia traded — higher
IBR — Normal
Additional Notes
N.A.
Hypo 1
Short
Reversal — Possible Failed Auction
Hypo 2
Long
Late-Sustained Auction
Hypo 3
Long
Reversal — Possible Failed Auction
Hypo 4
Short
Auction Fade
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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