Bear Market Trader | Premarket Prep GOLD XAUUSD - London session
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20220113 Premarket Prep Gold

20220113 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 test­ing the high

Click to Enlarge

Sen­ti­ment

  • LN open
    • 0.63xASR Above Val­ue, Out­side Range, 
    • Mod­er­ate to Large Imbalance,
    • Open at yesterday’s high
  • Mar­ket Profile
    • Val­ues in UT
  • Nar­ra­tive
    • D1 closed high­er but did not take out supply
    • H4-C‑D 1817.291 With­in val­ue at VAH
    • Trend is Down 2/3
    • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
    • H4 price slow­down at old H4 sup­ply trad­ing with­in H4 QHi
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Long
    • Return to Val­ue, VAH Rever­sal, pos­si­ble Failed Auc­tion, pos­si­ble reac­tion off LTF demand above value
    • Pre­ferred if price took out M30 bear engulf
  • Hypo 2
    • Short
    • Late-Sus­tained Auc­tion to Val­ue Acceptance
    • Pre­ferred if price can take out LTF sup­ply and re-tests IB low
  • Hypo 3
    • Long
    • Auc­tion Fade Long

Addi­tion­al Notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1810.196

ZOIs for Pos­si­ble Long

  • H4-C‑D 1817.291

Mind­ful Trad­ing (lack of sleep?)

  • Didn’t sleep well, will need to be care­ful. Only trade after C TPO (if any)

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 Racing Enthusiast.

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