20220623 Premarket Prep Gold - Bear Market Trader
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20220623 Premarket Prep Gold

20220623 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 is trad­ing below body but with­in range
  • W1
    • W1 Bear Engulf giv­ing W1-C‑S 1852.151 but with a long buy­ing wick


  • D1
    • Price returned to D1-C‑S 1834.922 BASE lev­el and closed as a con­sol­i­da­tion with equal-long buy­ing and sell­ing wicks above W1 QLo
    • D1 QLo reject­ed and price is trad­ing mid swing
    • Pos­si­ble D1 Phase 1 / 3
  • H4
    • H4 QLo reject­ed and QHi is test­ed fol­lowed by a H4 DBD at D1 Sup­ply Base level
    • Pre­mar­ket formed a H4 Bull­ish Inside Bar at W1 QLo
  • Trend
    • Mixed Trend
  • Mar­ket Profile
    • Very wide val­ue cre­at­ed over­lap­ping the pre­vi­ous, price trad­ing with­in over­all range
  • LN Open
    • Prev Day did not exceed ADR but did trade 0.94 indi­cat­ing pos­si­ble momentum
    • Open Inside Val­ue (wide value)
    • Asia formed a Neu­tral Day but most­ly trad­ed lower
    • 0.32xASR Tight IBR
    • IB closed above VAH

Addi­tion­al Notes

  • N.A.


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


  • 2

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay although a lit­tle tired

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


Day trader. Tech geek. Sim Racing Enthusiast.

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