20210928 Premarket Prep Gold - Bear Market Trader
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20210928 Premarket Prep Gold

28 Sep 20210928 Premarket Prep Gold

Posted at 09:22h in Gold, Gold Premarket Prep, Trading Plan by
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#fin­twit #order­flow #day­trad­ing #pre­mar­ket­prep #XAUUSD #GOLD #Forex­trad­er #forex #FX #Forexlifestyle #day­trade #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life 

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 2021 Week 39 Trad­ing Plan

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

Com­pared against Week­ly Trad­ing Plan

  • Price trad­ing below last week’s body but with­in range
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 closed slight­ly high­er but with longer sell­ing wick
    • H4 Three Inside Down with no imme­di­ate continuation
  • Trend: H4 Down, D1 Down, W1 Up
    • Pre­vail­ing trend: Trend is Down 2/3
  • Mar­ket Profile
    • Slow­down in price, 2‑day over­lap­ping values
  • Dai­ly Range
    • ADR: 23657
    • ASR: 16916
      • 423
    • Day
      • Yes­ter­day’s High 1760.770
      • Yes­ter­day’s Low 1744.780

Sen­ti­ment

  • LN open
    • Below Val­ue, Out­side Range
  • Open dis­tance to value
    • 0.27xASR
  • Nar­ra­tive
    • Mod­er­ate to Large Imbal­ance. Price trad­ed high­er dur­ing IB (tra­vers­ing 0.53xASR tak­ing out some D1 demand). Pre­mar­ket trad­ed down and closed as a H4 Bear Engulf giv­ing H4-C‑S 1751.169 with­in H4 QLo no arrival at D1 QLo (yet). Trend is down 2/3.
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Return to Val­ue, Failed Auc­tion Short
  • Hypo 2
    • Val­ue Acceptance 
  • Hypo 3
    •  Auc­tion Fade Long, vari­a­tion to Hypo 1

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1794.187
  • H4-C‑S 1751.169

ZOIs for Pos­si­ble Long

  • MN-C‑D 1739.674
  • W1-C‑D 1729.691

Mind­ful Trad­ing (lack of sleep?)

  • Might be com­ing down with some­thing. Will take it easy today. 

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 20 trades by the end of the month, prefer­ably 2 a day (not in the same prod­uct at the same time) 
  • Week­ly Goal
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
    • No ear­ly exits, either hit SL or 2R tar­get, lat­est cut-off 1:30 Lon­don time
  • Risk Man­age­ment
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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