20210917 Premarket Prep Gold - Bear Market Trader
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20210917 Premarket Prep Gold

20210917 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 pulled back to new­ly formed W1 C‑sup (Bear Engulf) and react­ed trad­ing down near­ing W1 QLo
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 Three Inside Down com­plet­ed exceed­ing ADR by 2.24 rejec­tion D1 QHi and cur­rent­ly trad­ing mid swing
    • H4 Phase 4 arriv­ing at H4 QLo with some reac­tion through con­sol­i­da­tion and H4 Bull Engulf
  • Trend: H4 Down, D1 Down, W1 Up
    • Pre­vail­ing trend: Trend has shift­ed to DOWN 2/3
  • Mar­ket Profile
    • Wide val­ue has been cre­at­ed below the over­all range
  • Dai­ly Range
    • ADR: 22752
    • ASR: 13654
      • 350
    • Day
      • Yes­ter­day’s High 1796.090
      • Yes­ter­day’s Low 1745.270


  • LN open
    • Below Val­ue, Out­side Range
  • Open dis­tance to value
    • 0.57xASR
  • Nar­ra­tive
    • Mod­er­ate to large imbal­ance. Yes­ter­day exceed­ed ADR so a move high­er could be war­rant­ed but only if I can fit a 2R tar­get. IB formed a bear engulf so there could be a con­tin­u­a­tion to the D1 THree Inside Down. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Return to Val­ue, Sus­tained auc­tion down, 
  • Hypo 2
    •  Return to Val­ue, Val­ue edge reversal
  • Hypo 3
    •  Sus­tained Auc­tion Up

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1794.187

ZOIs for Pos­si­ble Long

  • MN-C‑D 1739.674

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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