20220628 Premarket Prep Gold - Bear Market Trader
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20220628 Premarket Prep Gold

20220628 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, with­in range
  • W1
    • W1 Bear Engulf with long buy­ing wick, slight con­tin­u­a­tion clos­ing with­in W1 QLo, W1 demand


  • D1
    • Pos­si­ble D1 Phase 1 / 3
    • Price retraced to D1 Sup­ply Base lev­el but closed below although fail­ing to close with­in D1 demand and D1 QLo
  • H4
    • H4 Bull Engulf giv­ing H4-C‑D 1823.719 with con­tin­u­a­tion clos­ing high­er not con­fi­dent­ly reject­ing H4 QLo
  • Trend
    • Mixed Trend
  • Mar­ket Profile
    • Val­ue cre­at­ed above the pre­vi­ous brack­et­ing range although still with­in over­all range
  • LN Open
    • 0.59xASR Below Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • Asia extend­ed and trad­ed higher
    • 0.17xASR Tight IBR

Addi­tion­al Notes

  • N.A.


  • Hypo 1
    • Long
    • Late-Sus­tained Auc­tion, risky with con­ges­tion in the way
  • Hypo 2
    • Short
    • Return to Val­ue. Pos­si­bly at wide LTF Sup­ply below VAL. Rever­sal, pos­si­ble Failed Auc­tion, pos­si­ble continuation
  • Hypo 3
    • Short
    • Auc­tion Fade
  • Hypo 4
    • Short
    • Late-Sus­tained Auc­tion, very risky

Clar­i­ty / Confidence

  • 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


Day trader. Tech geek. Sim Racing Enthusiast.

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