12 Aug 20220812 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 and test­ed MN VWAP in UT (pos­si­ble CAR)
• W1
  • Price made a HH and is cur­rent­ly trad­ing above body but with­in range
  • Price trad­ing above W1 QLo although not yet rejected

Nar­ra­tive

• D1
  • Price trad­ing at D1 50MA in DT above D1 demand High in Dist. Curve
  • D1 QLo reject­ed, price trad­ing mid swing although came close to swing high
• H4
  • H4 Bear Engulf reject­ing H4 QHi for the 2nd time. Although no imme­di­ate con­tin­u­a­tion. Instead some consolidation.
  • Round num­ber 1800 popped
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • 3 over­lap­ping val­ues with­in over­all range
• LN Open
  • 0.09xASR Above Val­ue, With­in Range
  • Mod­er­ate Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed higher
  • 0.41xASR IBR
  • B TPO accept­ed value

Addi­tion­al Notes

• N.A. 

Hypos

• Hypo 1
  • Short
  • Val­ue Accep­tance, risky with demand with­in value
• Hypo 2
  • Long
  • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auction
• Hypo 3
  • Short
  • 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