19 Jul 20220719 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 29 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • Price prob­ing deep­er with­in MN demand
• W1
  • Price closed deep with­in Demand and W1 QLo and is cur­rent­ly trad­ing with­in body

Nar­ra­tive

• D1
  • D1 Invert­ed ham­mer, pos­si­ble consolidation
  • Trad­ing deep with­in D1 QLo (shar­ing same lev­els as W1 QLo)
• H4
  • H4 Three Inside Down giv­ing H4-C‑S 1714.859 with­in val­ue at VAL
  • Price trad­ing at H4 QLo
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • Val­ue cre­at­ed above the previous
• LN Open
  • 0.42xASR Below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed higher
  • 0.31xASR IBR
  • C closed above IB, not far below VAL

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auction
• Hypo 2
  • Long
  • Late-Sus­tained Auc­tion, Val­ue Acceptance
• Hypo 3
  • Short
  • Auc­tion Fade, risky if there is a full rota­tion through val­ue although there are some sup­plies there.

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

• 2

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals
  • Use SL scaling

• Twit­ter
• Insta­gram