20220412 Premarket Prep Gold - Bear Market Trader
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20220412 Premarket Prep Gold

20220412 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
    • Last month closed as an Invert­ed Ham­mer, pos­si­ble con­tin­u­a­tion although trad­ing into MN Supply
    • Price trad­ing with­in MN QHi
    • Price cur­rent­ly trad­ing above last month’s body, but still with­in range
  • W1
    • W1 con­sol­i­da­tion after W1 QHi rejection
    • Price cur­rent­ly trad­ing above last week’s body and range has made a HH

Click to Enlarge


  • D1
    • Yes­ter­day closed high­er but leav­ing a longer sell­ing wick react­ing off MN Sup­ply and price took out D1 Supply
    • D1 QHi reject­ed, price trad­ing mid swing
    • Prev. Day Exceed­ed ADR by 1.20
  • H4
    • Price arrived at H4 QHi and saw a rever­sal with no fol­low-through. Instead a close high­er with­in H4 QHi and H4 Supply
  • Trend
    • Strong UT
  • Mar­ket Profile
    • Price cre­at­ed val­ue above the pre­vi­ous brack­et­ing range
  • LN Open
    • Open With­in Value
    • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
    • Open at H4 QHi, IBR trad­ed down
    • 0.40xASR IBR

Addi­tion­al Notes

  • N.A.


  • Hypo 1
    • Long
    • Failed Auc­tion, pos­si­ble 3‑I Day
  • Hypo 2
    • Short
    • Late-Sus­tained Auction
  • Hypo 3
    • Long
    • Auc­tion Fade


  • 3

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing not too sharp today, be cautious

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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