20211103 Premarket Prep Gold - Bear Market Trader
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20211103 Premarket Prep Gold

20211103 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 in last month’s body
  • Price trad­ing below last week’s body but still with­in range
  • Price trad­ing mid W1 swing com­ing from QLo rejection
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 rejec­tion of D1 QHi. No con­tin­u­a­tion to D1 Bull­ish Inside Bar.
    • Price trad­ing at H4 QLo
  • Trend: H4 Down, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 2/3
  • Mar­ket Profile
    • Val­ue cre­at­ed above the pre­vi­ous but trad­ing with­in over­all range
  • Dai­ly Range
    • ADR: 19327
    • ASR: 12751
      • 319
    • ASR Short: 6632
      • 166 (too tight)
    • Day
      • Yes­ter­day’s High 1796.290
      • Yes­ter­day’s Low 1786.330


  • LN open
    • Below Val­ue, Out­side Range
  • Open dis­tance to value
    • 0.71xASR
  • Nar­ra­tive
    • Mod­er­ate to Large Imbal­ance. Uptrend 2/3. Price trad­ing at H4 QLo and with­in D1 demand (coin­cid­ing with D1 VWAP) at old H4-C‑D 1781.836. D1 sup­ply with­in value.
  • Clar­i­ty (1–5, 5 being best)
    • 2
  • Hypo 1
    • Sus­tained Auc­tion Up
  • Hypo 2
    • Return to Val­ue, Auc­tion Fade Short, vari­a­tion to Hypo 1
  • Hypo 3
    • Sus­tained Auc­tion Down (pos­si­ble con­tin­u­a­tion to yesterday’s Inside bar)

Addi­tion­al notes

  • Tomor­row Fed Inter­est Rate Deci­sion, non-farm on Friday

ZOIs for Pos­si­ble Shorts

  • MN-C‑S 1813.621
  • W1-C‑S 1807.771
  • D1-C‑S 1793.804

ZOIs for Pos­si­ble Long

  • H4-C‑D 1781.836 OLD
  • D1-C‑D 1764.198

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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