Bear Market Trader | Premarket Prep GOLD XAUUSD - London session
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20220309 Premarket Prep Gold

20220309 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 trad­ing deep­er into MN Sup­ply and MN QHi hav­ing made a HH over last month
  • W1
    • Price closed near its high last week and is cur­rent­ly trad­ing high­er with­in W1 Sup­ply and W1 QHi
    • Price near­ing W1 Sup­ply End 2075.537

Click to Enlarge

Nar­ra­tive

  • D1
    • D1 trad­ed high­er tak­ing out D1 sup­ply but clos­ing with­in D1-C‑S 2037.757
    • Price still trad­ing with­in wide D1 QHi near­ing swing high
    • Prev. Day Exceed­ed ADR by 2.11
  • H4
    • H4 con­sol­i­da­tion with­in D1 Supply
  • Trend
    • Trend is UP 3/3
    • Strong UT
  • Mar­ket Profile
    • Val­ues in UT
  • LN Open
    • 1.35xASR Above Val­ue, Out­side Range
    • Large to Huge Imbalance
    • Asia extend­ed high­er but then pulled back
    • 0.28xASR Tight IBR

Hypos

  • Hypo 1
    • Short
    • Mean Rever­sion, Late-Sus­tained Auc­tion, tricky with LTF demand in the way
  • Hypo 2
    • Long
    • Auc­tion Fade
  • Hypo 3
    • Long
    • Return to Val­ue, VAH Reversal

Clar­i­ty

  • 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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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