20210625 Premarket Prep Gold - Bear Market Trader
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20210625 Premarket Prep Gold

20210625 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 retraced to MN demand with slight reaction
  • Price trad­ing with­in last week’s range below VWAP

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 failed to close high­er instead a slight DBD giv­ing D1-C‑S 1779.092 with longer sell­ing wicks
    • D1/W1 demand test­ed 4 times
    • H4 Phase 1 / 3, H4 Bull Engulf with slight con­tin­u­a­tion high­er in premarket. 
  • Trend: H4 Down, D1 Down, W1 Up
    • Pre­vail­ing trend: Trend is DOWN 2/3
  • Mar­ket Profile
    • 4‑day brack­et
  • Dai­ly Range
    • ADR: 26656
    • ASR: 16464
      • 412
    • Day
      • Yes­ter­day’s High 1787.910
      • Yes­ter­day’s Low 1772.920


  • LN open
    • Open With­in Value
  • Open dis­tance to value
    • N.A.
  • Nar­ra­tive
    • Bal­anc­ing mar­ket. Open with­in val­ue, 4‑day brack­et. D1-C‑S 1779.092 at VAL. Although H4 closed high­er but still trad­ing below H4 VWAP. D1 did not close with­in demand (although test­ed mul­ti­ple times) so could also be a pos­si­ble D1 Phase 1 / 3
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1
    • Failed Auc­tion Short, open sentiment, 
  • Hypo 2
    •  Sus­tained Auc­tion Short, val­ue rejection, 
  • Hypo 3
    •  Auc­tion Fade Short, trad­ing with­in D1 Supply
  • Hypo 4
    • Sus­tained Auc­tion Long, pos­si­ble H4/D1 phase 1 above MN demand

Addi­tion­al notes

  • Cap­i­tal preser­va­tion rule in effect

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1779.092

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


Day trader. Tech geek. Sim Racing Enthusiast.

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