20220601 Premarket Prep Gold - Bear Market Trader
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20220601 Premarket Prep Gold

20220601 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 closed down fol­low­ing the Bear Engulf but left a longer buy­ing wick not clos­ing with­in MN demand
  • W1
    • W1 Bull­ish Inside Bar at W1 QLo with not much continuation
    • Instead a small invert­ed hammer
    • Wide W1 QLo


  • D1
    • D1 Bear Engulf to con­sol­i­da­tion and break down giv­ing D1-C‑S 1853.538 at D1 VWAP in DT
    • D1 QLo reject­ed with price trad­ing mid swing
    • Prev. Day Exceed­ed ADR by 1.02
  • H4
    • H4 DBD reject­ing H4 QHi, price trad­ing mid swing
    • H4 Phase 4
  • Trend
    • Trend Change: Trend is down 2/3
  • Mar­ket Profile
    • Wide val­ue cre­at­ed below two over­lap­ping values
  • LN Open
    • LN slight­ly wider than NY
    • Asia extend­ed and trad­ed lower
    • 1.02xASR Below Val­ue, Out­side Range
    • Large Imbal­ance
    • 0.4xASR IBR

Addi­tion­al Notes

  • Jun 03, 20:30, USD, Non­farm Pay­rolls Pri­vate (May)


  • Hypo 1
    • Long
    • Sus­tained Auction
  • Hypo 2
    • Short
    • Failed Auc­tion
  • Hypo 3
    • Short
    • Return to Val­ue, Auc­tion Fade, Reversal,


  • 3

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing tired still, extra cau­tion, prob­a­bly won’t trade

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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