20210621 Premarket Prep Gold NY - Bear Market Trader
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20210621 Premarket Prep Gold NY

20210621 Premarket Prep Gold NY

#fin­twit #order­flow #day­trad­ing #pre­mar­ket­prep #XAUUSD #GOLD #Forex­trad­er #forex #FX #Forexlifestyle #day­trade #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life 

This is my pre­mar­ket prep for today’s NY 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

  • Price trad­ing with­in last week’s body at W1 Demand

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 Closed with­in D1/W1 Demand and is cur­rent­ly trad­ing above last Friday’s body but with­in range
    • H4 trad­ed high­er and closed as a Bull­ish Ham­mer below H4-C‑S 1783.547
      • Lon­don trad­ed high­er clos­ing below H4 sup­ply before reacting
  • Trend: H4 Down, D1 Down, W1 Up
    • Pre­vail­ing trend: Trend is DOWN 2/3
  • Mar­ket Profile
    • Two over­lap­ping values
  • Dai­ly Range
    • ADR: 32796
    • ASR: 17947
      • 449
    • Day
      • Yes­ter­day’s High 1797.030
      • Yes­ter­day’s Low 1760.780


  • NY open
    • With­in Value
  • Open dis­tance to value
    • N.A.
  • Nar­ra­tive
    • 4
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Failed Auc­tion Short, probe above value
  • Hypo 2
    •  Sus­tained auc­tion down, tak­ing out LTF demand, pos­si­bly clos­ing below VAL, late-sus­tained auc­tion entry
  • Hypo 3
    • Auc­tion Fade Long, vari­a­tion to Hypo 1 if a 3I is formed or after Hypo 2
  • Hypo 5
    •  Failed Auc­tion Long, probe LTF demand at VAL
  • Hypo 6
    • Sus­tained Auc­tion Long, close above VAH, late-sus­tained auc­tion entry

Addi­tion­al notes

  • Cap­i­tal preser­va­tion rule in effect

ZOIs for Pos­si­ble Shorts

  • H4-C‑S 1818.254 BASE
  • H4-C‑S 1783.547 (low in dis­tri­b­u­tion curve)

ZOIs for Pos­si­ble Long

  • W1-C‑D 1774.420
  • MN-C‑D 1741.655
  • W1-C‑D 1730.136

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


Day trader. Tech geek. Sim Racing Enthusiast.

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