Bear Market Trader | Premarket Prep GOLD XAUUSD - London session
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20220408 Premarket Prep Gold

20220408 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
    • MN Invert­ed Ham­mer clos­ing with­in MN QHi
    • Price trad­ing with­in last month’s body
  • W1
    • W1 Con­sol­i­da­tion
    • W1 QHi rejected
    • Price trad­ing with­in last week’s body

Click to Enlarge

Nar­ra­tive

  • D1
    • Pos­si­ble D1 Phase 1 / 3
    • Price trad­ing between D1-C‑S 1932.614 and D1-C‑D 1922.644
  • H4
    • H4 Three Out­side Down at D1 Sup­ply with some follow-through
    • Price trad­ing mid swing com­ing from H4 QLo rejection
  • Trend
    • Trend is up 2/3
  • Mar­ket Profile
    • Long brack­et­ing range
  • LN Open
    • 0.08xASR Above Val­ue, With­in Range
    • Mod­er­ate Imbal­ance, although with­in a brack­et­ing range
    • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed down

Addi­tion­al Notes

  • Pos­si­ble Fri­day profit-taking

Hypos

  • Hypo 1
    • Short
    • Failed Auc­tion
  • Hypo 2
    • Long
    • Late-Sus­tained Auction
  • Hypo 3
    • Short
    • Val­ue Acceptance
  • Hypo 4
    • Short
    • Auc­tion Fade

Clar­i­ty

  • 3

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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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