20220715 Premarket Prep Gold

15 Jul 20220715 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:

Gold 2022 Week 28 Trad­ing Plan

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Larg­er Timeframe

• MN
  • Price trad­ing deep­er with­in MN demand
• W1
  • Price trad­ing below body and range mak­ing a LL trad­ing deep­er with­in Wide W1 QLo, W1 demand
  • Price extend­ed below W1 VWAP, trad­ing below W1 LKC in R

Nar­ra­tive

• D1
  • D1 Bear Engulf giv­ing D1-C‑S 1725.848 Low in Dist. Curve
  • Price trad­ing deep­er with­in Wide D1 QLo (shares the same lev­els as W1 QLo)
• H4
  • H4 VWAP in TC trad­ing deep with­in demand
  • H4-C‑S 1710.380 below VAL
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • Val­ue cre­at­ed below the previous
• LN Open
  • Prev. Day Exceed­ed ADR by 1.48
  • 0.63xASR Below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day
  • 0.27xASR Tight IBR

Addi­tion­al Notes

• Pos­si­ble Fri­day profit-taking

Hypos

• Hypo 1
  • Long
  • Failed Auc­tion, pos­si­ble con­tin­u­a­tion, risky con­tin­u­a­tion due to Sup­ply at VAL
• Hypo 2
  • Short
  • Return to Val­ue, Reversal
• Hypo 3
  • Short
  • Late-Sus­tained Auc­tion, risky due to trad­ing with­in demand
• Hypo 4
  • Long
  • Auc­tion Fade

Clar­i­ty / Con­fi­dence (1 — 5, low to high)

• 3

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals
  • Use SL scaling

• Twit­ter
• Insta­gram