09 Aug 20220809 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
• W1
  • Price trad­ing above body but still with­in range, pos­si­ble devel­op­ing W1 QLo rejection

Nar­ra­tive

• D1
  • D1 Bull­ish Inside Bar fol­low­ing a Bear­ish Inside Bar, pos­si­ble con­sol­i­da­tion, pos­si­ble devel­op­ing D1 Inside Up
  • D1 QLo reject­ed, price trad­ing mid swing
• H4
  • Price trad­ing with­in H4 QHi, at H4 VWAP/UKC in UT above H4-C‑D 1777.949 High in Dist. Curve (with­in val­ue below VAH)
  • Price trad­ing at H4-C‑S 1791.005 OLD
• Trend
  • Trend is Down 3/3
• Mar­ket Profile
  • Val­ue cre­at­ed below the pre­vi­ous with­in over­all range
• LN Open
  • 0.38xASR Above Val­ue, With­in Range
  • Mod­er­ate Imbalance
  • Asia trad­ed lower
  • 0.27x Tight IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Sus­tained Auction
• Hypo 2
  • Short
  • Rever­sal, Auc­tion Fade

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

• 4

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals
  • Use SL scaling

• Twit­ter
• Insta­gram