20220302 Premarket Prep Gold - Bear Market Trader
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20220302 Premarket Prep Gold

20220302 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 formed a RBR but closed below MN QHi and react­ed off MN supply
    • Price cur­rent­ly trad­ing above last month’s body but with­in range
  • W1
    • Price react­ed off W1 QHi leav­ing a sell­ing wick clos­ing below MN QHi
    • Price cur­rent­ly trad­ing above last week’s body but with­in range

Click to Enlarge


  • D1
    • Price closed high­er with­in D1 Sup­ply with a D1 Bull Engulf giv­ing D1-C‑D 1909.747
    • Price trad­ing with­in D1 QHi
    • PRev. Day Exceed­ed ADR by 1.37
  • H4
    • Price reject­ed H4 QLO and arrived at H4 QHi and H4-C‑S 1945.086 and start­ed consolidating
  • Trend
    • Trend is UP 2/3
  • Mar­ket Profile
    • 3‑day brack­et
  • LN Open
    • 1.09xASR Above Val­ue, Out­side Range
    • Large Imbal­ance
    • Asia extend­ed low­er but then con­se­quent­ly trad­ed high­er, pos­si­ble Frankie Fakeout


  • Hypo 1
    • Short
    • Mean Rever­sion, Late-sus­tained auc­tion due to M30 Bull Engulf in the way
  • Hypo 2
    • Long
    • Return to Val­ue, VAH Rever­sal, pos­si­ble Auc­tion Fade
  • Hypo 3
    • Long
    • Failed Auc­tion


  • 3

Addi­tion­al Notes

  • N.A.

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing tired so will take extra caution

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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