20220518 Premarket Prep Gold - Bear Market Trader
day trade, day trading, forex, FX, trade plan, trading plan, XAU USD, XAUUSD, GOLD, premarket prep, pre-market prep, tradingforex, traderlifestyle, daytraderlife,

20220518 Premarket Prep Gold

20220518 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 is test­ing MN demand after a Bear Engulf reject­ing MN QHi
  • W1
    • W1 Phase 4, no rever­sal yet
    • Price trad­ing below body, with­in range
    • Price trad­ing with­in Wide QLo

Click to Enlarge


  • D1
    • D1 Bull Engulf with no fol­low-through, instead a Bear­ish Inside Bar test­ing inside of Wide D1 QLo
  • H4
    • H4 VWAP / LKC in DT TC giv­ing H4-C‑S 1827.588 (with­in value)
    • Price failed to test H4 QHi and is near­ing QLo again
  • Trend
    • Mixed Trend, Up, Down, Up
  • Mar­ket Profile
    • Val­ue cre­at­ed above the pre­vi­ous DT
  • LN Open
    • 0.87xASR Below Val­ue, Out­side Range
    • Mod­er­ate to Large Imbal­ance, but only nearly
    • 0.42xASR IBR
    • Asia formed a Neu­tral Day but most­ly trad­ed lower

Addi­tion­al Notes

  • N.A.


  • Hypo 1
    • Long
    • Sus­tained Auc­tion, some con­ges­tion in the way, 
  • Hypo 2
    • Short
    • Return to Val­ue, Rever­sal, Auc­tion Fade
  • Hypo 3
    • 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.

No Comments

Post A Comment