Bear Market Trader | Premarket Prep GOLD XAUUSD - London session
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20220707 Premarket Prep Gold

20220707 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 and range
    • MN QHi reject­ed, price trad­ing mid swing
  • W1
    • Price trad­ing below body and range deep­er with­in wide W1 QLo

Nar­ra­tive

  • D1
    • Price trad­ing deep­er with­in Wide D1/W1 QLo, cur­rent­ly trad­ing at MN/D1 demand
  • H4
    • H4 Morn­ing Star at MN/D1 demand
  • Trend
    • Strong DT 3/3
  • Mar­ket Profile
    • Val­ue cre­at­ed below the pre­vi­ous, in DT
  • LN Open
    • Prev. Day Exceed­ed ADR by 1.51
    • 1.46xASR Below Val­ue, Out­side Range
    • Huge Imbal­ance
    • Asia formed a Neu­tral Day but most­ly trad­ed higher
    • 0.30xASR Tight IBR

Addi­tion­al Notes

  • N.A.

Hypos

  • Hypo 1
    • Short
    • Failed Auc­tion, pos­si­ble continuation
  • Hypo 2
    • Long
    • Late-Sus­tained Auction
  • Hypo 3
    • Long
    • Failed Auc­tion
  • Hypo 4
    • Short
    • Late-Sus­tained Auction

Clar­i­ty / Confidence

  • 3

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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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