08 Aug 20220808 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 32 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • Price trad­ing with­in body see­ing some reac­tion at MN UKC in DT pos­si­ble CAR
• W1
  • Price closed high­er at W1 QLo leav­ing a longer sell­ing wick
  • Price trad­ing with­in body

Nar­ra­tive

• D1
  • D1 Bear­ish Inside Bar at D1 50MA in DT
  • D1 QLo reject­ed, price trad­ing mid swing
• H4
  • H4 Phase 4, price cur­rent­ly trad­ing at H4 VWAP/UKC in UT
  • H4 QHi reject­ed, price trad­ing mid swing
• Trend
  • Trend is Down 3/3
• Mar­ket Profile
  • Val­ue cre­at­ed on top of the pre­vi­ous wide value
• LN Open
  • Prev. Day Exceed­ed ADR by 1.23
  • 0.63xASR Below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day
  • 0.30xASR IBR

Addi­tion­al Notes

• N.A. 

Hypos

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

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