20220704 Premarket Prep Gold - Bear Market Trader
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20220704 Premarket Prep Gold

20220704 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 closed with­in MN demand but did not make a LL
    • Price trad­ing at MN UKC in UT
    • MN QHi reject­ed, price trad­ing mid swing
    • Price made a LL but is trad­ing with­in body again
  • W1
    • Price closed with­in Wide W1 QLo but failed to close with­in W1-C‑D 1807.673 leav­ing a longer buy­ing wick.
    • Price trad­ing with­in body


  • D1
    • D1 Ham­mer react­ing off D1-C‑D 1797.673 (near round number)
    • Wide D1 QLo shar­ing the same lev­els as W1 QLo
  • H4
    • H4 Bull Engulf at D1 demand with con­tin­u­a­tion reject­ing H4 QLo
    • H4 con­sol­i­da­tion at H4 VWAP in DT
  • Trend
    • Trend is Down 2/3
  • Mar­ket Profile
    • Val­ue cre­at­ed below the previous
  • LN Open
    • Prev. Day Exceed­ed ADR by 1.26
    • 0.53xASR Above Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • Asia formed a Neu­tral Day
    • 0.16xASR Tight IBR

Addi­tion­al Notes

  • N.A.


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

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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