20210916 Premarket Prep Gold - Bear Market Trader
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20210916 Premarket Prep Gold

20210916 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 retraced to new­ly formed W1 C‑sup and react­ed, still trad­ing with­in last week’s body
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 Bear­ish Inside Bar giv­ing D1-C‑S 1794.187 return­ing to D1-C‑D 1792.844
    • H4 DBD at W1 Sup­ply fol­lowed by some slow­down at D1 demand
  • Trend: H4 , D1 , W1 
    • Pre­vail­ing trend: 
  • Mar­ket Profile
    • Val­ue cre­at­ed at the top of the over­all range and price is cur­rent­ly trad­ing below
  • Dai­ly Range
    • ADR: 18654
    • ASR: 11432
      • 290
    • Day
      • Yes­ter­day’s High 1806.740
      • Yes­ter­day’s Low 1790.640


  • LN open
    • Below Val­ue, Out­side Range,
  • Open dis­tance to value
    • 1.22xASR
  • Nar­ra­tive
    • Large Imbal­ance. Pos­si­ble H4 Phase 4 con­tin­u­ing on D1 Bear­ish Inside Bar. Near­by D1 demand and open sen­ti­ment could prove enough for a bounce in the form of a mean reversion.
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1
    • Mean Rever­sion, sus­tained auc­tion up
  • Hypo 2
    • Auc­tion Fade Short, Return to Val­ue, pos­si­ble rever­sal at LTF sup­ply below val­ue, vari­a­tion to Hypo 1
  • Hypo 3
    • Sus­tained Auc­tion Down (risky) 

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1794.187

ZOIs for Pos­si­ble Long

  • D1-C‑D 1792.844
  • 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


Day trader. Tech geek. Sim Racing Enthusiast.

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