20220609 Premarket Prep Gold

09 Jun 20220609 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:

Gold 2022 Week 23 Trad­ing Plan

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
  • Con­sol­i­da­tion above QLo

Nar­ra­tive

• D1
  • D1 Bull Engulf with slight con­tin­u­a­tion higher
  • D1 QLo reject­ed, price trad­ing mid swing
• H4
  • H4 DBD giv­ing H4-C‑S 1853.151 after H4 sup­ply got tak­en out
  • Price cur­rent­ly trad­ing at H4-C‑D 1849.357 (near round num­ber) with­in Value
• Trend
  • Mixed Trend, Up, Down, Up
• Mar­ket Profile
  • 2 over­lap­ping val­ues with­in over­all range
• LN Open
  • 0.02xASR Above Val­ue, With­in Range, ambigu­ous open
  • Mod­er­ate Imbalance
  • Asia formed a Neu­tral Day
  • 0.31xASR IBR
  • B accept­ed val­ue but there is demand with­in value

Addi­tion­al Notes

• N.A.

Hypos

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

• Twit­ter
• Insta­gram