Bear Market Trader | Premarket Prep GOLD XAUUSD - London session
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20220621 Premarket Prep Gold

20220621 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
    • Price trad­ing below body, with­in range
  • W1
    • W1 Bear Engulf giv­ing W1-C‑S 1852.151 after W1 QLo got rejected
    • Price is cur­rent­ly test­ing W1 QLo and W1 demand

Nar­ra­tive

  • D1
    • D1 Bear­ish Inside Bar fol­lowed by a pos­si­ble base, impli­ca­tion is for a pos­si­ble DBD
    • D1 QLO reject­ed for 2nd time through Bull Engulf giv­ing D1-C‑D 1821.414
  • H4
    • Pos­si­ble H4 Phase 3 reject­ing H4 QHi, price trad­ing mid swing
    • H4 Bear Engulf giv­ing H4-C‑S 1837.961 at VAL
  • Trend
    • Mixed Trend
  • Mar­ket Profile
    • Val­ue cre­at­ed below the previous
  • LN Open
    • 0.23xASR Below Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • Open below yesterday’s low
    • Asia formed a Neu­tral Day but most­ly trad­ed lower
    • NY wider than LN
    • 0.43xASR IBR
    • B TPO test­ed VAL and accept­ed value

Addi­tion­al Notes

  • N.A.

Hypos

  • Hypo 1
    • Short
    • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auction
  • Hypo 2
    • Long
    • Val­ue Accep­tance, pos­si­ble Late-Sus­tained Auction
  • Hypo 3
    • Short
    • Late-Sus­tained Auction
    • (for­ward-test­ing as a pos­si­ble con­tin­u­a­tion to Hypo 1 in case of a tight IBR although no moot as IB trad­ed high­er test­ing value)
  • 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.

1Comment
  • T3chAddict
    Posted at 09:06h, 21 June

    C TPO formed a Bear­ish M15 Inside Bar at VAL, even though B accept­ed val­ue, with H4 sup­ply with­in Val­ue I went short for a Return to Val­ue trade, Rever­sal as per Hypo 1. 

    C closed as a Bear­ish Inside Bar and D failed to close with­in new­ly formed M30 demand (in B TPO) and I took 0.6R.

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