Bear Market Trader | Premarket Prep GOLD XAUUSD - London session
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20220223 Premarket Prep Gold

20220223 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
    • 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
    • Price returned with­in last week’s body

Click to Enlarge

Nar­ra­tive

  • D1
    • D1 Bear Engulf at pre­vi­ous D1 Supply
    • Price trad­ing with­in wide D1 QHi
  • H4
    • Pos­si­ble H4 Phase 3
    • H4 con­sol­i­da­tion and break down giv­ing H4-C‑S 1898.104
    • Price test­ed old H4 demand mul­ti­ple times
  • Trend
    • Trend is UP 3/3
    • Strong UT
  • Mar­ket Profile
    • Brack­et­ing range but slop­ing higher
  • LN Open
    • Open With­in Value
    • Bal­anc­ing Market
    • Prev. Day Low near VAL
    • IB closed below VAL
    • LN trad­ing slight­ly wider range than NY

Hypos

  • Hypo 1
    • Long
    • Failed Auc­tion
  • Hypo 2
    • Short
    • Late-Sus­tained Auction
    • Pos­si­ble Weak­ness From With­in IBR
  • Hypo 3
    • Short
    • Failed Auc­tion
  • Hypo 4
    • Long
    • Auc­tion Fade

Clar­i­ty

  • 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
    • 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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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