20220624 Premarket Prep Gold - Bear Market Trader
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20220624 Premarket Prep Gold

20220624 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
  • W1
    • W1 Bear Engulf with longer buy­ing wick
    • Price trad­ing below body, but with­in range test­ing W1 QLo


  • D1
    • D1 DBD giv­ing D1-C‑S 1831.278 BASE (with­in value)
    • Price failed to close with­in D1-C‑D 1821.414 near­ing D1 QLo
  • H4
    • H4 demand got tak­en out and price closed with­in H4 QLo and start­ed consolidating
  • Trend
    • Mixed Trend
  • Mar­ket Profile
    • 3 over­lap­ping values
  • LN Open
    • 0.25xASR Below Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • Asia formed a Neu­tral Day trad­ing sideways
    • NY wider than LN
    • Open at Yesterday’s low
    • M15 dur­ing B TPO closed right at VAL, no con­fi­dent close, although then B TPO closed with­in Value
    • 0.61xASR IBR

Addi­tion­al Notes

  • Pos­si­ble Fri­day Profit-Taking


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


  • 3

Mind­ful Trad­ing (lack of sleep?)

  • A bit tired, will take it easy

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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