Bear Market Trader | Premarket Prep GOLD XAUUSD - London session
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20220609 Premarket Prep Gold

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:

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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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