Bear Market Trader | Premarket Prep GOLD XAUUSD - London session
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20220426 Premarket Prep Gold

20220426 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
    • Price trad­ing below last month’s body after react­ing off MN Supply
    • Price trad­ing below MN QHi
  • W1
    • W1 Bear Engulf reject­ing W1 QHi
    • Price trad­ing below last week’s body and range

Click to Enlarge

Nar­ra­tive

  • D1
    • D1 Phase 4 con­tin­ued clos­ing with­in D1-C‑D 1906.474
    • Price trad­ing at round num­ber of 1900
    • Prev. Day Exceed­ed ADR by 1.51
  • H4
    • Price trad­ing with­in wide H4 QLo and almost took out W1 demand / H4 swing extreme, but start­ed reacting
    • H4 RBR after near­ly tak­ing out demand
  • Trend
    • Trend is Down 2/3
  • Mar­ket Profile
    • Val­ue cre­at­ed below the pre­vi­ous with price cur­rent­ly trad­ing below
  • LN Open
    • 0.30xASR Below Val­ue, With­in Range
    • Mod­er­ate Imbalance
    • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
    • 0.44xASR IBR

Addi­tion­al Notes

  • N.A.

Hypos

  • Hypo 1
    • Short
    • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auction
  • Hypo 2
    • Long
    • Late-Sus­tained Auc­tion, Val­ue acceptance
  • Hypo 3
    • Short
    • Late-Sus­tained Auc­tion, risky trad­ing into D1 demand
  • Hypo 4
    • Long
    • Auc­tion Fade

Clar­i­ty

  • 3

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing a bit tired — 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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