20220705 Premarket Prep Gold - Bear Market Trader
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20220705 Premarket Prep Gold

20220705 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 with­in body after hav­ing made a LL
    • MN QHi reject­ed, price trad­ing mid swing
  • W1
    • Price trad­ing with­in body and Wide W1 QLo


  • D1
    • D1 Pin­bar / Ham­mer with­in demand fol­lowed by a D1 Spin­ning Top
    • Price trad­ing with­in Wide D1 QLo (shar­ing the same lev­el as W1 QLo)
  • H4
    • H4 QLo reject­ed, price trad­ing mid swing although near­ing H4 QHi
    • H4 con­sol­i­da­tion, hug­ging, around H4 VWAP in DT
  • Trend
    • Trend is Down 2/3
  • Mar­ket Profile
    • Val­ue cre­at­ed above the previous
  • LN Open
    • 0.03xASR Above Val­ue, Out­side Range (ambigu­ous open)
    • Mod­er­ate to Large Imbal­ance (tech­ni­cal­ly)
    • LN Wider than NY
    • Asia formed a Neu­tral Day but most­ly trad­ed higher
    • 0.27xASR Tight IBR
    • A TPO accept­ed val­ue, C TPO extend­ed below and rotat­ed through val­ue tak­ing out H4 demand

Addi­tion­al Notes

  • N.A.


  • Hypo 1
    • Short
    • Late-Sus­tained Auction
  • Hypo 2
    • Long
    • 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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