Bear Market Trader | Premarket Prep GOLD XAUUSD - London session
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20220325 Premarket Prep Gold

20220325 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
    • Price is back trad­ing at MN C‑Sup
  • W1
    • W1 Evening Star reject­ing W1 QHi
    • Price is cur­rent­ly trad­ing with­in, retrac­ing, last week’s body

Click to Enlarge

Nar­ra­tive

  • D1
    • D1 Con­sol­i­da­tion and break up with con­tin­u­a­tion clos­ing higher
    • D1 Qhi reject­ed with price trad­ing mid swing
  • H4
    • H4 Phase 2 form­ing demand above D1 C‑Dem
    • H4 QLo reject­ed with price trad­ing mid swing
    • H4 DBD at MN C‑sup
  • Trend
    • Trend is UP 3/3
  • Mar­ket Profile
    • Val­ue cre­at­ed above the previous
  • LN Open
    • 0.27xASR Above Val­ue, With­in Range
    • Mod­er­ate Imbalance
    • 0.18xASR Tight IBR
    • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed down

Addi­tion­al Notes

  • Price trad­ed high­er but might see some sell off due to today being Friday

Hypos

  • Hypo 1
    • Long
    • Sus­tained Auc­tion, pos­si­bly late-sus­tained auc­tion pre­ferred due to new H4 Sup­ply in the way
  • Hypo 2
    • Short
    • Failed Auc­tion
  • Hypo 3
    • Short
    • Auc­tion Fade, pos­si­ble rever­sal at H4 Supply

Clar­i­ty

  • 3

Mind­ful Trad­ing (lack of sleep?)

  • Didn’t have the best sleep 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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