20220706 Premarket Prep Gold - Bear Market Trader
day trade, day trading, forex, FX, trade plan, trading plan, XAU USD, XAUUSD, GOLD, premarket prep, pre-market prep, tradingforex, traderlifestyle, daytraderlife,

20220706 Premarket Prep Gold

20220706 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 is trad­ing below body and range hav­ing made a LL tak­ing out MN demand although no trad­ing at MN-C-D1780.587 which is a pos­si­ble Base lev­el and could see con­tin­u­a­tion to orig­i­nat­ing lev­el of MN-C‑D 1738.757
  • W1
    • Price trad­ing below body and range hav­ing made a LL cur­rent­ly trad­ing at W1-C‑D 1764.089
    • Price is trad­ing with­in Wide W1 QLo get­ting close to tak­en out swing low (although coin­cid­ing with W1 LKC)


  • D1
    • Big bar down clos­ing deep­er with­in Wide D1 QLo (shar­ing same lev­el with W1QLo)
  • H4
    • Some slow­down in price at W1/D1 demand
  • Trend
    • Strong DT 3/3
  • Mar­ket Profile
    • Val­ue cre­at­ed above the previous
  • LN Open
    • Prev. Day Exceed­ed ADR by 1.96
    • 1.92xASR Below Val­ue, Out­side Range
    • Huge Imbal­ance
    • Asia formed a Neu­tral Day most­ly trad­ing lower
    • 0.23xASR Tight IBR

Addi­tion­al Notes

  • N.A.


  • Hypo 1
    • Long
    • Late-Sus­tained Auc­tion, prefer­ably tak­ing out Asia high
  • Hypo 2
    • Short
    • Failed Auc­tion, pos­si­ble continuation
  • Hypo 3
    • Short
    • 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.

0 0 votes
Article Rating
Notify of

Inline Feedbacks
View all comments
Would love your thoughts, please comment.x