20220119 Premarket Prep Gold - Bear Market Trader
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20220119 Premarket Prep Gold

20220119 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

  • W1 QHi rejected
  • Last week closed as a W1 Bull­ish Inside Bar and price is trad­ing above its body but still with­in range
    • Price is cur­rent­ly trad­ing with­in last week’s body
    • Pos­si­bly devel­op­ing W1 Three Out­side Up

Click to Enlarge


  • LN open
    • Open With­in Value
  • Mar­ket Profile
    • Val­ue cre­at­ed below the pre­ced­ing bracket
  • Nar­ra­tive
    • D1 DBD with longer buy­ing wick
    • D1 QLo rejec­tion and price trad­ing mid swing
    • H4 QHi rejec­tion and DBD giv­ing H4 C‑Sup (at VAH) that got test­ed in premarket
    • Old H4 C‑Dem at VAL
    • Prev. Day Exceed­ed ADR by 1.08, pos­si­ble momentum
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Bal­anc­ing Market
    • Play off near­by ADR or LTF SD lev­els using LTF entry
    • Mon­i­tor for Failed Auction
  • Hypo 2
    • Long
    • Late-Sus­tained Auc­tion Entry, risky with H4 QHi right above
  • Hypo 3
    • Short
    • Auc­tion Fade
  • Hypo 4
    • Short
    • Late-Sus­tained Auc­tion Entry

Addi­tion­al Notes

  • N.A.

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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