Bear Market Trader | Premarket Prep GOLD XAUUSD - London session
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20220526 Premarket Prep Gold

20220526 Premarket Prep Gold

#fin­twit #XAUUSD #GOLD #Mar­ket­Pro­file #Order­flow

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 saw some reac­tion off MN demand
  • W1
    • W1 Bull­ish Inside Bar at W1 QLo
    • Price made a HH and is cur­rent­ly trad­ing with­in body

Nar­ra­tive

  • D1
    • D1 Bear Engulf at D1 VWAP in DT although not the strongest leav­ing a longer buy­ing wick
    • D1 QLo reject­ed with price trad­ing mid swing
  • H4
    • H4 trad­ed low­er then formed a Bull Engulf with no continuation
    • Instead a sup­ply giv­ing H4-C‑S 1853.077 at VAL
  • Trend
    • Mixed Trend, Up, Down, Up
  • Mar­ket Profile
    • 3 over­lap­ping val­ues after UT
  • LN Open
    • 0.40xASR Below Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • Asia formed a Neu­tral Day but most­ly trad­ed lower
    • 0.26xASR Tight IBR

Addi­tion­al Notes

  • N.A. 

Hypos

  • Hypo 1
    • Short
    • Return to Val­ue, Rever­sal, pos­si­ble Failed Auction
  • Hypo 2
    • Long
    • Late-Sus­tained Auc­tion to Val­ue Accep­tance, pos­si­ble Failed Auc­tion due to Tight IBR
  • Hypo 3
    • Short
    • Late-Sus­tained Auction
  • Hypo 4
    • Long
    • Auc­tion Fade

Clar­i­ty

  • 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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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