20220420 Premarket Prep Gold - Bear Market Trader
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20220420 Premarket Prep Gold

20220420 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 a MN Invert­ed Hammer
    • Cur­rent­ly price is trad­ing above last month’s body but with­in range and start­ed react­ing off MN Supply
  • W1
    • W1 Three Out­side Up with price mak­ing a HH although start­ed react­ing off W1 Sup­ply and QHi and price has returned to new­ly formed W1-C‑D 1947.156 High in Dis­tr. Curve

Click to Enlarge


  • D1
    • D1 con­sol­i­da­tion and break down at D1 QHi after a near-test of round num­ber of 2000
    • Prev. Day Exceed­ed ADR by 1.55
  • H4
    • H4 Phase 4 arriv­ing at OLD H4 demand, no arrival at H4 QLo (yet)
  • Trend
    • Trend is Up 2/3 (Trend Change)
  • Mar­ket Profile
    • 4 val­ues cre­at­ed with­in over­all range with the last below the pre­vi­ous and price is cur­rent­ly trad­ing overex­tend­ed below value
  • LN Open
    • 2.06 ASR Below Val­ue, Out­side Range
    • Huge Imbal­ance
    • 0.25xASR Tight IBR
    • Asia Trad­ed down

Addi­tion­al Notes

  • N.A.


  • Hypo 1
    • Short
    • Late-Sus­tained Auction
  • Hypo 2
    • Long
    • Auc­tion Fade
  • Hypo 3
    • Short
    • Failed Auc­tion, risky tight IBR, might have to mon­i­tor for continuation
  • Hypo 4
    • Long
    • Failed Auc­tion, risky tight IBR


  • 2

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


Day trader. Tech geek. Sim Racing Enthusiast.

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