20220708 Premarket Prep Gold - Bear Market Trader
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20220708 Premarket Prep Gold

20220708 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 made a LL and is trad­ing below body and range
    • MN QHi reject­ed, price trad­ing mid swing although at MN-C‑D 1738.757
  • W1
    • Price trad­ing below body and range hav­ing made a LL
    • Price trad­ing with­in Wide W1 QLo


  • D1
    • Pos­si­ble D1 Phase 4
    • D1 Inside Bar at MN/D1 demand, if it gets tak­en out it will also take out W1/D1 QLo
  • H4
    • Extend­ed H4 con­sol­i­da­tion above MN/D1 demand
  • Trend
    • Strong DT 3/3
  • Mar­ket Profile
    • Val­ues in DT
  • LN Open
    • Open With­in Value
    • Asia extend­ed above and returned to IB
    • 0.71xASR (some­what wide) IBR
    • A and B TPO closed below VAL

Addi­tion­al Notes

  • NFP today


  • Hypo 1
    • Short
    • Failed Auc­tion, Rever­sal (pos­si­bly with­in IBR), will mon­i­tor for a 3‑I day
  • Hypo 2
    • Long
    • Late-Sus­tained Auction
  • Hypo 3
    • Short
    • 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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