20210907 Premarket Prep Gold - Bear Market Trader
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20210907 Premarket Prep Gold

20210907 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

Com­pared against Week­ly Trad­ing Plan

  • Price trad­ing with­in MN sup­ply above last months body but with­in range
  • Price is trad­ing with­in W1 Sup­ply and last week’s body com­ing from W1 QLo rejection
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • Yes­ter­day closed as an Inside Bar at D1 sup­ply (test­ed mul­ti­ple times) and swing high trad­ing with­in D1 QHi
    • H4 Evening Star with­in H4 QHi and D1 Sup­ply with con­tin­u­a­tion down although price still above H4 UKC and VWAP in UT
  • Trend: H4 Up, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 3/3
  • Mar­ket Profile
    • Val­ue cre­at­ed above the 5‑day brack­et­ing range
  • Dai­ly Range
    • ADR: 16741
    • ASR: 10388
      • 2600
    • Day
      • Yes­ter­day’s High 1828.630
      • Yes­ter­day’s Low 1821.330


  • LN open
    • Below Val­ue, Out­side Range
  • Open dis­tance to value
    • 0.42xASR
  • Nar­ra­tive
    • Mod­er­ate to Large Imbal­ance. Price trad­ing at D1 sup­ply and yes­ter­day formed an Inside Bar with open below sen­ti­ment. Although Trend is up 3/3.
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1
    • Sus­tained Auc­tion Down, pos­si­ble late-sus­tained auc­tion entry as the move is already on the way
  • Hypo 2
    •  Auc­tion Fade Long, vari­a­tion to hypo 1
  • Hypo 3
    • VAA (not like­ly as IB already extend­ed to the downside)

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1826.118

ZOIs for Pos­si­ble Long

  • H4-C‑D 1812.564

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

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


Day trader. Tech geek. Sim Racing Enthusiast.

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