20211209 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,

20211209 Premarket Prep Gold

20211209 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 is com­ing from W1 QHi rejec­tion cur­rent­ly trad­ing with­in last week’s body

Click to Enlarge


  • LN open
    • Open With­in Value
  • Open dis­tance to value
    • N.A.
  • Mar­ket Profile
    • Wide val­ue cre­at­ed above the previous
  • Nar­ra­tive
    • Lit­tle D1 RBR and price is trad­ing above demand although no con­fi­dent break from range. D1 sup­ply just above. D1 QLo not rejected
    • H4 Bear Engulf at D1 Supply
    • Price com­ing from H4 QLo rejec­tion although with larg­er time­frame bear­ish sen­ti­ment and no D1 QLo rejec­tion (yet) there could be more down­side. Hav­ing said this; it is Decem­ber and insti­tu­tions are prob­a­bly get­ting ready to go on hol­i­day so there might be some range bound move­ment com­ing up instead.
    • Yes­ter­day cre­at­ed a wide value
    • Open with­in value
    • Asia formed a Neu­tral Day but closed high­er form­ing a H4 Three Inside Up
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1
    • Failed Auc­tion Long
  • Hypo 2
    • Late-Sus­tained Auc­tion Short, Val­ue Rejec­tion Down
  • Hypo 3
    • Weak­ness From With­in IBR
  • Hypo 4
    • Auc­tion Fade Long

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1790.962

ZOIs for Pos­si­ble Long

  • H4-C‑D 1771.866
  • W1-C‑D 1763.670

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing tired

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 15 trades by the end of the month, can take 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.

No Comments

Post A Comment