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20210913 Premarket Prep Gold - Bear Market Trader
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20210913 Premarket Prep Gold

20210913 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 last week’s W1 Bear Engulf
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • Some con­sol­i­da­tion below D1 Qhi
    • Price trad­ing with­in H4 QLo with some reac­tion off D1 demand
  • Trend: H4 Down, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 2/3
  • Mar­ket Profile
    • 3‑day brack­et
  • Dai­ly Range
    • ADR:18346 
    • ASR: 10798
      • 2700
    • Day
      • Yes­ter­day’s High 1803.780
      • Yes­ter­day’s Low 1787.150

Sen­ti­ment

  • LN open
    • Below Val­ue, Out­side Range
  • Open dis­tance to value
    • 0.74xASR
  • Nar­ra­tive
    • Mod­er­ate to Large Imbal­ance. Mean Rever­sion cri­te­ria not entire­ly met but could still see a move to val­ue edge. Although with a big bear engulf in the way this could prove problematic. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Return to Val­ue, Failed Auc­tion Short
  • Hypo 2
    • Mean Rever­sion, sus­tained auc­tion long
  • Hypo 3
    •  Auc­tion Fade Short, vari­a­tion to Hypo 2

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • H4-C‑S 1799.668

ZOIs for Pos­si­ble Long

  • H4-C‑D 1796.502
  • D1-C‑D 1781.384

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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

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