Bear Market Trader | Premarket Prep GOLD XAUUSD - London session
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20220805 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 with­in body
  • W1
    • W1 Out­side Up not clos­ing above W1 QLo
    • Price trad­ing above body and range hav­ing made a HH

Nar­ra­tive

  • D1
    • D1 Bear Engulf with no imme­di­ate con­tin­u­a­tion, instead a Three Out­side Up tak­ing out said sup­ply giv­ing D1-C‑D 1763.229
    • Price closed near its high at D1 50MA in DT
    • D1 QLo reject­ed, price trad­ing mid swing
  • H4
    • Pos­si­ble H4 Phase 2, although cur­rent­ly price has formed an Inside Bar and weak DBD
  • Trend
    • Trend is Down 3/3
  • Mar­ket Profile
    • Val­ue cre­at­ed above the pre­vi­ous although with­in over­all range
  • LN Open
    • Prev. Day Exceed­ed ADR by 1.38xADR
    • 0.51xASR Above Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • Asia formed a Neu­tral Day, most­ly trad­ing sideways
    • 0.26xASR Tight IBR

Addi­tion­al Notes

  • NFP today

Hypos

  • Hypo 1
    • Short
    • Late-Sus­tained Auction
  • Hypo 2
    • Long
    • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auc­tion, pos­si­ble Auc­tion Fade
  • Hypo 3
    • Long
    • Auc­tion Fade
  • Hypo 4
    • Long
    • Late-Sus­tained Auction

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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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