20220608 Premarket Prep Gold - Bear Market Trader
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20220608 Premarket Prep Gold

20220608 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
    • Price trad­ing with­in body
  • W1
    • W1 Bull­ish Inside Bar at W1 QLo fol­lowed by a consolidation

Nar­ra­tive

  • D1
    • Pos­si­ble D1 Phase 1 / 3
    • D1 Bull Engulf (not the strongest, pos­si­ble con­sol­i­da­tion) clos­ing above D1 VWAP (pos­si­ble D1 VWAP DT BO to CAS) price did close with­in new­ly formed D1 Supply.
  • H4
    • H4 Three Out­side Down giv­ing H4-C‑S 1852.703 at D1 Supply
  • Trend
    • Mixed Trend. Up, Down, Up
  • Mar­ket Profile
    • Wider Val­ue cre­at­ed below the previous
  • LN Open
    • Open With­in Value
    • 0.41xASR IBR
    • Asia extend­ed lower
    • B closed above VAH

Addi­tion­al Notes

  • N.A. 

Hypos

  • Hypo 1
    • Long
    • Failed Auc­tion
  • Hypo 2
    • Long
    • Late-Sus­tained Auction
  • Hypo 3
    • Short
    • Failed Auc­tion
  • Hypo 4
    • Short
    • Late-Sus­tained Auction

Clar­i­ty

  • 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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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