Categories
20210618 Premarket Prep Gold - Bear Market Trader
day trade, day trading, forex, FX, trade plan, trading plan, XAU USD, XAUUSD, GOLD, premarket prep, pre-market prep, tradingforex, traderlifestyle, daytraderlife,
6699
post-template-default,single,single-post,postid-6699,single-format-standard,vcwb,bridge,ajax_fade,page_not_loaded,,side_area_uncovered_from_content,qode-theme-ver-9.5,hide_inital_sticky,wpb-js-composer js-comp-ver-4.12,vc_responsive
 

20210618 Premarket Prep Gold

20210618 Premarket Prep Gold

#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:

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

Click to Enlarge

Com­pared against Week­ly Trad­ing Plan

  • W1 Three Out­side Down with con­tin­u­a­tion down arriv­ing at W1-C‑D 1774.420

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 Phase 4 arriv­ing at D1/W1 demand, extend­ed below VWAP in UT
    • H4 Bull Engulf formed at W1-C‑D 1774.420
  • Trend: H4 Down, D1 Down, W1 Up
    • Pre­vail­ing trend: Trend is DOWN 2/3
  • Mar­ket Profile
    • Val­ue cre­at­ed extend­ed below the brack­et­ing range
  • Dai­ly Range
    • ADR: 32132
    • ASR: 16976
      • 424
    • Day
      • Yes­ter­day’s High 1825.210
      • Yes­ter­day’s Low 1767.180

Sen­ti­ment

  • LN open
    • Below Val­ue, With­in Range
  • Open dis­tance to value
    • 0.58xASR
  • Nar­ra­tive
    • Mod­er­ate Imbal­ance. H4 Bull Engulf and base formed at W1-C‑D 1774.420. No arrival at D1/W1 QLo. Trend is down 2/3 but arrived at W1/D1 demand.
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Sus­tained Auc­tion Down
  • Hypo 2
    • Val­ue Accep­tance, sus­tained auc­tion up, H4-C‑S 1818.254 BASE at VAH
  • Hypo 3
    •  Failed Auc­tion Short, probe of value
  • Hypo 4
    • Auc­tion Fade long, after Hypo 1
  • Hypo 5
    • Auc­tion Fade Short, after hypo 2
  • Hypo 6
    • Failed Auc­tion Long

Addi­tion­al notes

  • Cap­i­tal preser­va­tion rule in effect

ZOIs for Pos­si­ble Shorts

  • H4-C‑S 1818.254 BASE

ZOIs for Pos­si­ble Long

  • W1-C‑D 1774.420

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 13 trades by the end of the month
  • Week­ly Goal
    • Min. 3 times work­ing out at home + manda­to­ry cardio
  • Risk Man­age­ment
    • With­out forc­ing a trade: aim to take 1 trade a day, if pos­si­ble 2. 
    • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

No Comments

Post A Comment