Categories
20211126 Premarket Prep Gold - Bear Market Trader
day trade, day trading, forex, FX, trade plan, trading plan, XAU USD, XAUUSD, GOLD, premarket prep, pre-market prep, tradingforex, traderlifestyle, daytraderlife,
8102
post-template-default,single,single-post,postid-8102,single-format-standard,vcwb,bridge,ajax_fade,page_not_loaded,,side_area_uncovered_from_content,qode-theme-ver-9.5,hide_inital_sticky,wpb-js-composer js-comp-ver-4.12,vc_responsive
 

20211126 Premarket Prep Gold

20211126 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
  • Price returned to W1 Demand Base Lev­el and price is reacting

Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Trend: H4 Down, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 2/3
  • Mar­ket Profile
    • 4‑day over­lap­ping brack­et­ing range with price trad­ing above value
  • Dai­ly Range
    • ADR: 23511
    • ASR: 15974
      • 399
    • ASR Short: 10170
      • 254
    • Day
      • Yes­ter­day’s High 1795.060
      • Yes­ter­day’s Low 1787.560

Sen­ti­ment

  • LN open
    • ABove Val­ue, Out­side Range
  • Open dis­tance to value
    • 0.92xASR
  • Nar­ra­tive
    • Large Imbal­ance
    • Open at H4 supply
    • Asia extend­ed a sus­tained auc­tion up
    • Gap up on the start of the day
    • ADR exhaus­tion 45 pips above IB
    • Price returned to W1 base demand lev­el but price start­ed react­ing although devel­op­ing a pos­si­ble W1 Three Out­side Down
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Mean Rever­sion, sus­tained auc­tion down
  • Hypo 2
    • Return to Val­ue, val­ue edge rever­sal, pos­si­bly at LTF demand above VAH
  • Hypo 3
    • Auc­tion Fade Long

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • H4-C‑S 1808.244

ZOIs for Pos­si­ble Long

  • W1-C‑D 1794.045 BASE
  • D1-C‑D 1786.996

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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

No Comments

Post A Comment