20220323 Premarket Prep Gold - Bear Market Trader
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20220323 Premarket Prep Gold

20220323 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 react­ed off MN sup­ply but is still trad­ing with­in MN QHi
  • W1
    • W1 Evening Star reject­ing W1 QHi
    • Price is cur­rent­ly trad­ing with­in last week’s body

Click to Enlarge


  • D1
    • D1 Con­sol­i­da­tion
    • D1 QHi rejec­tion with price trad­ing mid swing
  • H4
    • H4 Con­sol­i­da­tion with­in H4 QLo
  • Trend
    • Trend is UP 2/3
  • Mar­ket Profile
    • 2 over­lap­ping val­ues below the over­all range
  • LN Open
    • 0.24xASR Below Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • Asia formed a Neu­tral Day
    • 0.13xASR Tight IBR


  • Hypo 1
    • Long
    • Val­ue Accep­tance, risky with D1 Sup­ply there but due to a pos­si­ble con­tin­u­a­tion of con­sol­i­da­tion there could be a push higher
    • Pos­si­ble con­tin­u­a­tion if there is a val­ue rotation
  • Hypo 2
    • Short
    • Return to Val­ue, VAL Rever­sal, pos­si­ble Failed Auction
  • Hypo 3
    • Short
    • Auc­tion Fade


  • 3

Addi­tion­al Notes

  • N.A.

Mind­ful Trad­ing (lack of sleep?)

  • There were 3 earth­quakes last night that woke me up so prob­a­bly not the sharpest. Will just sit and observe unless I see some­thing very obvious.

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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