20220225 Premarket Prep Gold - Bear Market Trader
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20220225 Premarket Prep Gold

20220225 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
    • Price is test­ing MN-C‑S 1965.163 and cur­rent­ly trad­ing below MN QHi
  • W1
    • Price trad­ing with­in W1 Sup­ply, QHi
    • Price trad­ing above last week’s body and range
    • Price took out W1 demand

Click to Enlarge


  • D1
    • Prev. Day Exceed­ed ADR by 3.0 trad­ing both sides tak­ing out D1 demand as well as sup­ply before clos­ing as an Inside Bar with longer sell­ing wick
    • Price failed to close with­in D1 QHi (coin­cid­ing with MN QHi)
  • H4
    • H4 Bear Engulf at MN C‑sup giv­ing H4-C‑S 1945 and con­tin­u­a­tion low­er clos­ing below D1 QHi
    • No fol­low-through, instead a H4 demand was cre­at­ed giv­ing H4-C‑D 1906.515
  • Trend
    • Trend is Up 2/3
  • Mar­ket Profile
    • Val­ue cre­at­ed above the pre­vi­ous with price cur­rent­ly overex­tend­ed below value
  • LN Open
    • 2.19xASR Below Val­ue, Out­side Range
    • Huge Imbal­ance
    • Asia Extend­ed higher
    • Lon­don opened at H4-C‑D 1906.515
    • Tight IBR


  • Hypo 1
    • Long
    • Late-Sus­tained Auction
  • Hypo 2
    • Short
    • Failed Auc­tion
  • Hypo 3
    • Short
    • Return to Val­ue, Rever­sal, Pos­si­ble Auc­tion Fade
  • Hypo 4
    • Long
    • 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
    • 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


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