20220421 Premarket Prep Gold - Bear Market Trader
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20220421 Premarket Prep Gold

20220421 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 Inside Bar­with longer buy­ing wick
    • D1 QHi rejec­tion price trad­ing mid swing
  • H4
    • H4 Bull Engulf at W1 demand (which is high in dis­tr. curve) with no con­tin­u­a­tion high­er. Instead a consolidation
  • Trend
    • Trend is Up 2/3
  • Mar­ket Profile
    • Wide Val­ue cre­at­ed below over­all range
  • LN Open
    • Open With­in Value
    • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed down
    • 0.18xASR Tight IBR

Addi­tion­al Notes

  • N.A.


  • Hypo 1
    • Long
    • Failed Auc­tion, pos­si­ble con­tin­u­a­tion due to tight IBR
  • Hypo 2
    • Short
    • Late-Sus­tained Auction
  • Hypo 3
    • Long
    • Auc­tion Fade, pos­si­ble Reversal


  • 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


Day trader. Tech geek. Sim Racing Enthusiast.

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