20220607 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,

20220607 Premarket Prep Gold

20220607 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 with continuation
    • How­ev­er, price left a longer buy­ing wick react­ing off MN Demand
  • W1
    • W1 Bull­ish Inside Bar at W1 QLo, with not much continuation
    • Instead some consolidation
    • Price trad­ing below body, with­in range


  • D1
    • D1 Bear­ish Inside Bar with some con­tin­u­a­tion form­ing a Three Out­side Down giv­ing D1-C‑S 1850.751 clos­ing with­in D1-C‑D 1847.148
    • Price closed above D1 VWAP, pos­si­ble devel­op­ing CAS unless price takes out demand
    • D1 QHi reject­ed, with price trad­ing mid swing
  • H4
    • Price trad­ing low­er giv­ing H4-C‑S 1852.805
    • Arrival at H4 QLo price start­ed consolidating
  • Trend
    • Mixed Trend, Up, Down, Up 
  • Mar­ket Profile
    • H&S pat­tern in val­ue cre­at­ed below the pre­vi­ous after a UT
  • LN Open
    • 0.87xASR Below Val­ue, Out­side Range
    • Large Imbal­ance
    • Asia formed a Neu­tral Day but most­ly trad­ed higher
    • D1-C‑S 1850.751 below VAL at Ses­sion Range Low
    • 0.41xASR IBR

Addi­tion­al Notes

  • N.A.


  • Hypo 1
    • Long
    • Sus­tained Auction
  • Hypo 2
    • Short
    • Return to Val­ue, Rever­sal, pos­si­ble Failed Auc­tion if lat­er in the session
  • Hypo 3
    • Short
    • Late-Sus­tained Auction
  • Hypo 4
    • Long
    • Auc­tion Fade


  • 2

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.

0 0 votes
Article Rating
Notify of

Inline Feedbacks
View all comments
Would love your thoughts, please comment.x