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20220110 Premarket Prep Gold - Bear Market Trader
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20220110 Premarket Prep Gold

20220110 Premarket Prep Gold

This is my pre­mar­ket prep for today’s Euro­pean ses­sion for GOLD. This prep builds off of my week­ly trade plan I made here:

#fin­twit #order­flow #day­trad­ing #pre­mar­ket­prep #XAUUSD #GOLD #Forex­trad­er #forex #FX #Forexlifestyle #day­trade #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life 

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Com­pared against Week­ly Trad­ing Plan

  • Price trad­ing with­in last month’s body after hav­ing made a HH above its range and is cur­rent­ly trad­ing above MN demand
  • Last week closed as a W1 Bear Engulf with price below last week’s body but still with­in range

Click to Enlarge

Sen­ti­ment

  • LN open
    • 0.04xASR Above Value,Within Range, Mod­er­ate Imbalance
  • Mar­ket Profile
    • Val­ues in DT
  • Nar­ra­tive
    • D1 Inside Bar react­ing off D1 QLo leav­ing a buy­ing wick
    • Pos­si­ble H4 Phase 1 above D1 QLo, H4 Bull ENgulf giv­ing H4-C‑D 1793.254 (at VAH)
    • H4 QHi reject­ed and price is trad­ing mid swing
    • Trend is DOWN 2/3
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • VAH Rever­sal Long, pos­si­ble sus­tained auc­tion long, pos­si­ble Failed Auc­tion Long
  • Hypo 2
    • Val­ue Accep­tance, pos­si­ble con­tin­u­a­tion after val­ue rota­tion, tricky due to Demand with­in value
  • Hypo 3
    • Auc­tion Fade Short
  • Hypo 4
    • Auc­tion Fade Long

Addi­tion­al Notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1810.196

ZOIs for Pos­si­ble Long

  • H4-C‑D 1793.254
  • MN-C‑D 1780.536

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

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