20220516 Premarket Prep Gold - Bear Market Trader
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20220516 Premarket Prep Gold

20220516 Premarket Prep Gold

#fin­twit #XAUUSD #GOLD

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 QHi rejected
    • MN Bear Engulf with con­tin­u­a­tion down
    • Price test­ing MN demand
  • W1
    • Pos­si­ble W1 Phase 4, failed to close with­in demand
    • Price cur­rent­ly trad­ing below body and range test­ing W1-C‑D 1807.673
    • Price trad­ing with­in wide W1 QLo

Click to Enlarge


  • D1
    • Price closed low­er with­in Wide D1 QLo
    • Price test­ing D1-C-D1797.238, trad­ing around round num­ber of 1800
  • H4
    • Price closed lower
  • Trend
    • Trend is Down 2/3
  • Mar­ket Profile
    • Val­ue cre­at­ed below the previous
  • LN Open
    • 0.56xASR Below Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • Asia formed a Neu­tral Day but most­ly trad­ed lower
    • 1.31xASR Wide IBR
    • ASR exhaust­ed

Addi­tion­al Notes

  • N.A.


  • Hypo 1
    • Long
    • Failed Auc­tion
  • Hypo 2
    • Short
    • Weak­ness From With­in IBR
  • Hypo 3
    • Long
    • Rever­sal
  • Hypo 4
    • Short
    • Failed Auc­tion


  • 3

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

Focus Points for trad­ing development

  • Month­ly Goals
    • Either hit SL or tar­get, reassess after Trad­ing Win­dow Close
    • 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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