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20210623 Premarket Prep Gold - Bear Market Trader
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20210623 Premarket Prep Gold

20210623 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

  • Price trad­ing with­in last week’s body
  • No arrival at W1/D1 QLo
  • MN demand below

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 Three Out­side Up fol­lowed by an Inside Bar with slight­ly longer buy­ing wick react­ing off D1/W1 demand
    • Price still trad­ing extend­ed below D1 VWAP, below D1 LKC in UT.
    • Pos­si­ble H4 Phase 1 / 3, H4 cre­at­ed some demand but no close with­in supply
  • Trend: H4 Down, D1 Down, W1 Up
    • Pre­vail­ing trend: Trend is Down 2/3
  • Mar­ket Profile
    • 2‑day over­lap­ping values
  • Dai­ly Range
    • ADR: 32183
    • ASR: 17686
      • 442
    • Day
      • Yes­ter­day’s High 1790.020
      • Yes­ter­day’s Low 1772.360

Sen­ti­ment

  • LN open
    • Open with­in value
  • Open dis­tance to value
    • N.A.
  • Nar­ra­tive
    • Bal­anc­ing mar­ket. Open with­in val­ue with some con­sol­i­da­tion below VAH
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1
    • Failed Auc­tion Short, probe above value
  • Hypo 2
    •  Failed Auc­tion Long, Probe below value
  • Hypo 3
    • Val­ue Rejec­tion Up, close above IB and VAH, late-sus­tained auc­tion entry, pos­si­ble Auc­tion Fade at 2nd DTTZ
  • Hypo 4
    • Val­ue Rejec­tion Down, close below IB and VAL, late-sus­tained auc­tion entry, pos­si­ble Auc­tion Fade at 2nd DTTZ

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

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.

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