20220802 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,

20220802 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 closed down as a Ham­mer leav­ing a long buy­ing wick react­ing off MN demand
  • W1
    • W1 Three Out­side Up fail­ing to close above W1 QLo
    • Price trad­ing above body and made a HH prob­ing above W1 QLo


  • D1
    • D1 QLo reject­ed, price trad­ing mid swing not quite near D1 50MA in DT yet
  • H4
    • Price trad­ing at H4 200MA in DT
    • H4-C‑D 1769.106 High in Dist. Curve with­in value
    • H4-C‑D 1764.557 cre­at­ed at H4 VWAP in UT, below VAL
  • Trend
    • Trend is Down 2/3
  • Mar­ket Profile
    • Val­ues in UT
  • LN Open
    • Open With­in Value
    • Asia formed a Neu­tral Day but most­ly trad­ed high­er, then reversed
    • 0.43xASR IBR

Addi­tion­al Notes

  • Fri­day, Aug 05, USD, Non­farm Pay­rolls Pri­vate (Jul)


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

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


Day trader. Tech geek. Sim Racing Enthusiast.

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