20220513 Premarket Prep Gold - Bear Market Trader
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20220513 Premarket Prep Gold

20220513 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 Bear Engulf reject­ing MN QHi
    • Price made a LL and is trad­ing below body and range
    • Price run­ning into con­ges­tion from MN demand
  • W1
    • W1 closed down as a Bear­ish Hammer
    • Pos­si­ble H4 Phase 4
    • Price trad­ing below body and range
    • Arrival at W1 QLo has seen some reac­tion but price cur­rent­ly trad­ing with­in demand and QLo

Click to Enlarge


  • D1
    • D1 closed low­er with­in D1 QLo giv­ing D1-C‑S 1838.766 Low in Dist. Curve
    • Prev. Day Exceed­ed ADR by 1.56
    • Price trad­ing with­in wide W1/D1 QLo
  • H4
    • H4 Bull Engulf with­in W1/D1QLo, with­in demand, fol­lowed by a pos­si­ble base
  • Trend
    • Trend is Down 2/3
  • Mar­ket Profile
    • 2 over­lap­ping val­ues in DT, price trad­ing below value
  • LN Open
    • 1.48xASR Below Val­ue, Out­side Range
    • Huge Imbal­ance
    • Asia extend­ed and trad­ed higher
    • 0.42xASR IBR

Addi­tion­al Notes

  • Pos­si­ble Fri­day profit-taking


  • Hypo 1
    • Long
    • Mean Rever­sion, Sus­tained Auction
  • Hypo 2
    • Short
    • Late-Sus­tained Auction
  • Hypo 3
    • Short
    • Return to Val­ue, pos­si­bly at LTF sup­ply, Rever­sal, pos­si­ble Auc­tion Fade
  • Hypo 4
    • Long
    • Auc­tion Fade


  • 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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