20220114 Premarket Prep Gold - Bear Market Trader
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20220114 Premarket Prep Gold

20220114 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


  • LN open
    • 0.11xASR Above Val­ue, With­in Range, Mod­er­ate Imbalance, 
  • Mar­ket Profile
    • Val­ues in UT
  • Nar­ra­tive
    • D1 closed as a con­sol­i­da­tion with longer buy­ing wick below D1 Sup­ply End and has cur­rent­ly made a HH
    • D1 QLo reject­ed and price trad­ing mid swing
    • H4 sup­ply tak­en out dur­ing IB
    • Price trad­ing high­er with­in H4 QHi and H4 bull­ish Inside bar giv­ing H4-C‑D 1820.997
    • Trend is DOWN 2/3
    • Pre­vi­ous Day high near VAH
    • Asia trad­ed higher
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1
    • Short
    • Val­ue Accep­tance, risky with new demand at VAL
  • Hypo 2
    • Long
    • Return to Val­ue, VAH rever­sal, price pre­ferred to close above Asia and yesterday’s high, pos­si­ble Failed Auction
  • Hypo 3
    • Long
    • Sus­tained Auction
    • Prefer­ably price clos­es above Asia and yesterday’s high
  • Hypo 4
    • Long
    • Auc­tion Fade

Addi­tion­al Notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1810.196

ZOIs for Pos­si­ble Long

  • H4-C‑D 1820.997

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


Day trader. Tech geek. Sim Racing Enthusiast.

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