20220622 Premarket Prep Gold - Bear Market Trader
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20220622 Premarket Prep Gold

20220622 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 below body but with­in range
    • MN QHi reject­ed, price trad­ing mid swing
  • W1
    • W1 Bear Engulf with longer buy­ing wick react­ing off W1 QLo
    • Price trad­ing below boyd, with­in range

Nar­ra­tive

  • D1
    • D1 DBD react­ing off W1 Sup­ply giv­ing D1-C‑S 1837.922 BASE (above VAH)
    • D1 Bull Engulf demand and D1 QLo right below
  • H4
    • Price trad­ing at H4 QLo and failed to close with­in in premarket
  • Trend
    • Mixed Trend
  • Mar­ket Profile
    • Val­ues in DT
  • LN Open
    • 0.46xASR Below Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • Open below yesterday’s low
    • Asia extend­ed and trad­ed lower
    • 0.42xASR IBR
    • NY wider than LN

Addi­tion­al Notes

  • N.A.

Hypos

  • Hypo 1
    • Short
    • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auction
  • Hypo 2
    • Long
    • Late-Sus­tained Auc­tion, pos­si­ble Val­ue Acceptance
  • Hypo 3
    • Short
    • Late-Sus­tained Auction
  • Hypo 4
    • Long
    • Auc­tion Fade

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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