20220222 Premarket Prep Gold

22 Feb 20220222 Premarket Prep Gold

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This is my pre­mar­ket prep for today’s Euro­pean ses­sion for GOLD. This prep builds off of my week­ly trade plan I made here:

Gold 2022 Week 8 Trad­ing Plan

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Larg­er Timeframe

• MN
  • Pos­si­ble devel­op­ing MN RBR
  • Price is near­ing MN QHi (after QHi has been reject­ed mul­ti­ple times) and MN Sup­ply End
• W1
  • Price trad­ing with­in W1 Sup­ply, QHi
  • Price trad­ing above last week’s body and range

Nar­ra­tive

• D1
  • Price closed high­er as a D1 Ham­mer with­in D1-C‑S 1903.50
  • Price trad­ing with­in D1 QHi
  • Prev. Day Exceed­ed ADR by 1.07
• H4
  • Price gapped up and filled the gap
  • Some slow­down with­in D1 Supply
• Trend
  • Trend is UP 3/3
• Mar­ket Profile
  • 3 over­lap­ping val­ue bracket
• LN Open
  • 0.82xASR Above Val­ue, Out­side Range
  • Price moved high­er before trad­ing low­er dur­ing IBR
  • Asia Extend­ed down
  • 1.03xASR Wide IBR and accept­ed val­ue, although there is demand with­in the tight value
  • ASR exhaust­ed

Hypos

• Hypo 1
  • Long
  • Return to Val­ue, pos­si­ble Failed Auc­tion, VAH Reversal
• Hypo 2
  • Short
  • Weak­ness From With­in IBR
• Hypo 3
  • Long
  • Auc­tion Fade

Clar­i­ty

• 4

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
  • No ear­ly exits, either hit SL or target
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

• Twit­ter
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