20211026 Premarket Prep Gold - Bear Market Trader
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20211026 Premarket Prep Gold

20211026 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 above last week’s body but still with­in range
  • Price trad­ing mid W1 swing below MN/W1 Supply
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • 2nd test of D1 QHi
    • D1 trad­ed and closed high­er with­in the pre­vi­ous sell­ing wick (1.08xADR)
    • H4 QHi test­ed twice before slow­ing down
  • Trend: H4 UP, D1 UP, W1 UP
    • Pre­vail­ing trend: Strong Uptrend 3/3
  • Mar­ket Profile
    • Val­ues in UT
  • Dai­ly Range
    • ADR: 21717
    • ASR: 13754
      • 350
    • ASR Short: 7641
      • 190
    • Day
      • Yes­ter­day’s High 1809.940
      • Yes­ter­day’s Low 1792.190


  • LN open
    • Above Val­ue, Out­side Range
  • Open dis­tance to value
    • 0.18xASR
  • Nar­ra­tive
    • Mod­er­ate to Large Imbal­ance. Rel­a­tive close prox­im­i­ty to val­ue edge. IBR tra­versed 0.35xASR accept­ing val­ue. But with a strong uptrend this can be sus­pect. Price is also test­ing VAH. H4 DBD clos­ing below H4/D1 QHi.
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1
    • Return to Val­ue, Val­ue Edge Reversal
  • Hypo 2
    • Val­ue Accep­tance and sus­tained auc­tion down 
  • Hypo 3
    • Failed Auc­tion Long 
  • Hypo 4
    • Auc­tion Fade Long, vari­a­tion to hypo 2

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • MN-C‑S 1813.621
  • W1-C‑S 1807.771

ZOIs for Pos­si­ble Long

  • D1-C‑D 1768.535

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) 
    • No ear­ly exits, either hit SL or 2R target
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • Process
    • Keep trade review com­ments short
  • Risk Man­age­ment
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING


Day trader. Tech geek. Sim Racing Enthusiast.

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