20220211 Premarket Prep Gold - Bear Market Trader
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20220211 Premarket Prep Gold

20220211 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
    • Price ducked above last month’s body and is cur­rent­ly trad­ing with­in last month’s sell­ing wick
    • Trad­ing with­in body
  • Price trad­ing above last week’s body and extend­ed the range mak­ing a HH
    • Price test­ing new W1 Supply
    • Price trad­ing with­in New W1 Sup­ply and last week’s body after extend­ing into the range

Click to Enlarge


  • Nar­ra­tive
    • D1 Bear­ish Inside Bar with longer sell­ing wick, although a buy­ing wick is present as well
    • H4 Bear Engulf at H4 QHi giv­ing NEW H4 Sup­ply formed with­in value
    • Prev. Day Exceed­ed ADR by 1.19
    • Trend Change: Trend is Down 2/3
    • H4 Bull­ish Inside Bar with longer buy­ing wick (coin­cid­ing with H4 UKC in UT)
    • Tight IBR
  • LN open
    • 0.43xASR Below Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
  • Mar­ket Profile
    • Val­ues in UT with price cur­rent­ly trad­ing below
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1
    • Short
    • Return to Val­ue, VAL rever­sal (oth­er­wise at LTF sup­ply), pos­si­ble Failed Auction
  • Hypo 2
    • Short
    • Late-Sus­tained Auc­tion, risky with LTF demand in the way
  • Hypo 3
    • Long
    • Auc­tion Fade

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
    • 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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