20220224 Premarket Prep Gold - Bear Market Trader
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20220224 Premarket Prep Gold

20220224 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
    • Price took out MN Sup­ply and is trad­ing with­in MN QHi
  • W1
    • Price trad­ing with­in W1 Sup­ply, QHi
    • Price trad­ing above last week’s body and range
    • Price returned with­in last week’s body
    • Price took out W1 demand from May but still trad­ing with­in October’s demand

Click to Enlarge


  • D1
    • D1 speed­bump and break high­er with Bull Engulf giv­ing D1-C‑D 1909.432
    • Price trad­ing with­in W1/D1 QHi
    • Price near­ing D1-C‑S 1954.981
    • Prev. Day trad­ed 0.94xADR, pos­si­ble momentum 
  • H4
    • Price trad­ed and closed high­er near­ing D1 Sup­ply (old H4 sup­ply in the way might see reaction)
  • Trend
    • Strong UT
    • Trend is up 3/3
  • Mar­ket Profile
    • Brack­et­ing range with price overex­tend­ed above value
  • LN Open
    • 3.10xASR Above Val­ue, Out­side Range
    • Huge Imbal­ance
    • Asia extend­ed high­er exhaust­ing ADR


  • Hypo 1
    • Short
    • Mean Rever­sion, near­by D1 Sup­ply, Rever­sal, sus­tained auc­tion, pos­si­ble Failed Auction
  • Hypo 2
    • Long
    • Auc­tion Fade
  • Hypo 3
    • Long
    • Late-Sus­tained Auction
  • Hypo 4
    • Long
    • Failed Auc­tion


  • 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


Day trader. Tech geek. Sim Racing Enthusiast.

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