Bear Market Trader | Premarket Prep GOLD XAUUSD - London session
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20220816 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 but is see­ing some reac­tion at MN VWAP, pos­si­ble CAR
  • W1
    • Price trad­ing with­in body and test­ing W1 QLo after rejection

Nar­ra­tive

  • D1
    • D1 Bear Engulf giv­ing D1-C‑S 1787.728 clos­ing with­in D1 demand High in Dist. Curve
    • D1 QLo reject­ed, price trad­ing mid swing
  • H4
    • H4 sold off to H4 QLo and start­ed con­sol­i­da­tion and formed a Bull Engulf giv­ing H4-C‑D 1778.691 with­in value
  • Trend
    • Trend is Down 3/3
  • Mar­ket Profile
    • Wide val­ue cre­at­ed below the pre­vi­ous range
  • LN Open
    • Prev. Day Exceed­ed ADR by 1.31
    • Open With­in Value
    • Asia formed a Neu­tral Day but trad­ed higher
    • 0.29xASR (slight­ly) Tight IBR

Addi­tion­al Notes

  • N.A.

Hypos

  • Hypo 1
    • Long
    • Failed Auc­tion, pos­si­ble 3‑I day, 
  • Hypo 2
    • Short
    • Late-Sus­tained Auc­tion, prefer­ably price clos­es below VAL
  • Hypo 3
    • Long
    • Auc­tion Fade

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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