20211111 Premarket Prep Gold - Bear Market Trader
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20211111 Premarket Prep Gold

20211111 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 and range with­in W1 Sup­ply and made a HH tak­ing out W1 Sup­ply End
  • Price arrived at W1 QHi

Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 closed high­er but with a longer sell­ing wick react­ing off W1/D1 QHi
    • H4 closed high­er react­ing off old H4 sup­ply to side­ways trading
    • More range dur­ing Lon­don at the moment
  • Trend: H4 Up, D1 Up, W1 Up
    • Pre­vail­ing trend: Strong uptrend 3/3
  • Mar­ket Profile
    • 2 over­lap­ping val­ues with price trad­ing above
  • Dai­ly Range
    • ADR: 24255
    • ASR: 17026
      • 426
    • ASR Short: 6614
      • 165
    • Day
      • Yes­ter­day’s High 1868.380
      • Yes­ter­day’s Low 1822.300


  • LN open
    • Above Val­ue, Out­side Range
  • Open dis­tance to value
    • 1.77xASR
  • Nar­ra­tive
    • Huge Imbal­ance. Pos­si­bil­i­ty for a con­tin­u­a­tion instead of a mean rever­sion. Although Prev. Day exceed­ed ADR by 1.90. Asia closed high­er but failed to close with­in D1 QHi. Lon­don is trad­ing more than NY. Main move might hap­pen dur­ing Lon­don. Strong uptrend. W1/D1 sup­ply got tak­en out although due to arrival at D1/W1 QHi there might be a reac­tion. ADR exhaus­tion not far above IB.
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Mean Rever­sion Sus­tained Auc­tion Down
  • Hypo 2
    • Auc­tion Fade Long, vari­a­tion to Hypo 1
  • Hypo 3
    • Sus­tained Auc­tion Up
  • Hypo 4
    • Auc­tion Fade Short, vari­a­tion to Hypo 3

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • H4-C‑S 1864.402 OLD

ZOIs for Pos­si­ble Long

  • H4-C‑D 1822.888

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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