20220217 Premarket Prep Gold - Bear Market Trader
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20220217 Premarket Prep Gold

20220217 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

Larg­er Timeframe

  • MN
    • Price trad­ing above last month’s body and range but still with­in over­all MN Supply
  • W1
    • W1 Three Out­side Up test­ing W1 QHi clos­ing with­in W1 Sup­ply after tak­ing out a new­ly formed W1 Supply
    • Price took out W1/D1 Supply
    • Cur­rent­ly trad­ing with­in last week’s body after hav­ing extend­ed the range to the upside mak­ing a HH
    • Price trad­ing above range again with­in W1 QHi

Click to Enlarge


  • D1
    • D1 closed high­er with­in new­ly cre­at­ed D1 Sup­ply ignor­ing new­ly formed Bear Engulf
    • Pos­si­ble D1 Phase 1 / 3
    • Price trad­ing with­in D1 QHi
  • H4
    • Price returned to H4 QHi and formed a base although already retraced to base level
    • Price closed as a Hammer
  • Trend
    • Trend is UP 2/3
    • Trend Change 3/3, Strong UT
  • Mar­ket Profile
    • 3‑day brack­et­ing range, price mak­ing big swings above
    • Price cur­rent­ly trad­ing above value
  • LN Open
    • 1.46xASR Above Val­ue, Out­side Range
    • Huge Imbal­ance
    • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
    • 1.19xASR Wide IBR
    • ADR exhaus­tion right above at D1-C‑S 1892.673, pos­si­bil­i­ty for uni­di­rec­tion­al day but hard with sup­ply in the way


  • Hypo 1
    • Short
    • Failed Auc­tion, Pos­si­ble D1 C‑Sup Reversal
  • Hypo 2
    • Long
    • Strength From With­in IBR
  • Hypo 3
    • Long
    • Late-Sus­tained Auction
  • Hypo 4
    • Short
    • Auc­tion Fade


  • 3

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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