20220111 Premarket Prep Gold - Bear Market Trader
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20220111 Premarket Prep Gold

20220111 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 with­in last month’s body after hav­ing made a HH above its range and is cur­rent­ly trad­ing above MN demand
    • Price start­ed react­ed a bit and price is trad­ing at the top of the body/range
  • Last week closed as a W1 Bear Engulf with price cur­rent­ly trad­ing with­in last week’s body

Click to Enlarge


  • LN open
    • 0.64xASR Above Val­ue, Out­side Range, Mod­er­ate to Large Imbalance
  • Mar­ket Profile
    • Val­ue cre­at­ed above the previous
    • Price still with­in over­all range
    • Price trad­ing above value
  • Nar­ra­tive
    • D1 Three Inside Up at D1 QLo
    • Price cur­rent­ly trad­ing at D1-C‑S 1810.196
    • H4 Phase 2 reject­ing H4 QLo giv­ing H4-C‑D 1800.436 and price is trad­ing mid swing
    • Yesterday’s high and H4-C‑D 1800.436 near­by VAH
    • Asia extend­ed to the upside
    • Trend is DOWN 2/3
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Short
    • Mean Rever­sion, sus­tained auction
    • If IBR can tra­verse high­er into D1 sup­ply and ful­fil cri­te­ria before revers­ing that would be preferred
    • Price needs to extend with­in the first 2 hours
  • Hypo 2
    • Short
    • Rever­sal, pos­si­ble Failed Auction
    • Near­by D1 supply
  • Hypo 3
    • Long
    • Return to Val­ue, rever­sal near­by VAH, pos­si­ble auc­tion fade
    • Yesterday’s high, VAH, H4 demand
  • Hypo 4
    • Long
    • Late-Sus­tained Auc­tion Entry

Addi­tion­al Notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • H4-C‑S 1818.639
  • D1-C‑S 1810.196

ZOIs for Pos­si­ble Long

  • H4-C‑D 1800.436
  • 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


Day trader. Tech geek. Sim Racing Enthusiast.

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