20211123 Premarket Prep Gold - Bear Market Trader
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20211123 Premarket Prep Gold

20211123 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

  • Pos­si­ble Devel­op­ing MN Three Inside UP although price trad­ing with­in MN Supply
  • Last week closed as an Inside Bar below W1 QHi and price is trad­ing below its body and range: pos­si­bly devel­op­ing a W1 Three Out­side Down

Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 Three Out­side Down with con­tin­u­a­tion down tra­vers­ing 1.86xADR. Price reject­ed D1/W1 QHi with no arrival at QLo (yet)
    • H4 con­sol­i­da­tion at H4 200MA
  • Trend: H4 Down, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 2/3
  • Mar­ket Profile
    • Val­ue cre­at­ed below the previous
  • Dai­ly Range
    • ADR: 24884
    • ASR: 17136
      • 428
    • ASR Short: 9512
      • 238
    • Day
      • Yes­ter­day’s High 
      • Yes­ter­day’s Low 


  • LN open
    • Below Val­ue, Out­side Range
  • Open dis­tance to value
    • 1.78xASR
  • Nar­ra­tive
    • Huge Imbal­ance. Asia formed a Neu­tral Day after price ini­tial­ly extend­ed to the upside first. Prev. Day Exceed­ed ADR by 1.68. Pos­si­bil­i­ty for some retrace­ment. Price trad­ing at yesterday’s low. If price can hold below there might be a con­tin­u­a­tion to the down move. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Mean Rever­sion, Sus­tained Auc­tion Long
  • Hypo 2
    • Failed Auc­tion Short, vari­a­tion to Hypo 1 if there is no mean rever­sion in the first 2 hours
  • Hypo 3
    • Sus­tained Auc­tion Short, although D1 QLo and demand not far off
  • Hypo 4
    • Auc­tion Fade Long, vari­a­tion to hypo 3
  • Hypo 5
    • Auc­tion Fade Short, vari­a­tion to Hypo 1

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • W1-C‑S 1888.859
  • D1-C‑S 1862.308

ZOIs for Pos­si­ble Long

  • W1-C‑D 1794.045

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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