20220520 Premarket Prep Gold - Bear Market Trader
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20220520 Premarket Prep Gold

20220520 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 Bear Engulf reject­ing MN QHi
    • Price trad­ing below body and range
    • Price react­ing off MN demand
  • W1
    • Price closed with­in W1 QLo but failed to close with­in W1 demand
    • Price react­ing off demand and is cur­rent­ly trad­ing above QLo

Click to Enlarge


  • D1
    • D1 Three Out­side Up reject­ing D1 QLo
    • Price closed with­in D1 Sup­ply which is low in dis­tr. Curve
    • D1 Price closed above W1 QLo
    • Prev. Day Exceed­ed ADR by 1.26
  • H4
    • Big push high­er clos­ing with­in H4 QHi, fol­lowed by a lit­tle sell of through DBD at H4 UKC in DT
    • Price closed below H4 QHi but then closed with­in as a Marubozu can­dle giv­ing H4 demand High in Dist. Curve
  • Trend
    • Mixed Trend
  • Mar­ket Profile
    • An even wider val­ue cre­at­ed slight­ly over­lap­ping the pre­vi­ous, price trad­ing above value
  • LN Open
    • 0.88xASR Above Val­ue, Out­side Range
    • Large imbal­ance
    • Open at yesterday’s high
    • 0.41xASR IBR

Addi­tion­al Notes

  • NY range about the same as LN
  • Pos­si­ble Fri­day Profit-taking


  • Hypo 1
    • Short
    • Sus­tained Auc­tion, some con­ges­tion in the way (H4 demand High in Dist. Curve)
  • Hypo 2
    • Long
    • Return to Val­ue, Rever­sal, Auc­tion Fade
  • Hypo 3
    • Long
    • Failed Auc­tion
  • Hypo 4
    • Long
    • Late-Sus­tained 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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Great Analy­sis — Nev­er trade sleep deprived!

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