20220519 Premarket Prep Gold - Bear Market Trader
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20220519 Premarket Prep Gold

20220519 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
    • Price made a LL and seen some reac­tion off MN demand although still trad­ing lower
  • W1
    • W1 Phase 4 clos­ing with­in Wide W1 QLo but failed to close with­in W1 demand
    • Price test­ed W1 QLo from with­in and made a LL

Click to Enlarge


  • D1
    • D1 Bull Engulf with no follow-through
    • Instead a Bear­ish Inside Bar fol­lowed by a pos­si­ble base
    • Price has not closed above QLo (yet)
  • H4
    • Pos­si­ble H4 Phase 1 / 3 tak­ing out new­ly formed demand
    • H4 QLo reject­ed and price trad­ing mid swing
  • Trend
    • Trend Change: Mixed Trend, Up, Down, Up
  • Mar­ket Profile
    • Wide Val­ue cre­at­ed below the pre­vi­ous pos­si­bly start­ing an over­all range
  • LN Open
    • Open With­in Value
    • Asia formed a Neu­tral Day but most­ly trad­ed lower
    • 0.28xASR Tight IBR

Addi­tion­al Notes

  • N.A.


  • Hypo 1
    • Short
    • Failed Auc­tion
  • Hypo 2
    • Long
    • Strength From With­in IBR
  • Hypo 3
    • Short
    • Late-Sus­tained Auction
  • Hypo 4
    • Long
    • Auc­tion Fade


  • 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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