Bear Market Trader | Premarket Prep GOLD XAUUSD - London session
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20220906 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

  • MN
    • Price closed deep with­in MN demand and made a LL but is no trad­ing with­in body
    • MN QHi reject­ed, price trad­ing mid swing
  • W1
    • Price closed with­in W1 demand and is cur­rent­ly trad­ing with­in body
    • Price trad­ing with­in Wide W1 QLo

Nar­ra­tive

  • D1
    • D1 Bull Engulf with slight con­tin­u­a­tion although no con­fi­dent close above D1 QLo
  • H4
    • Price closed above pre­vi­ous range high leav­ing a longer sell­ing wick off old H4 sup­ply coin­cid­ing with H4 50MA in DT. Price fol­lowed with a Hammer.
    • H4 QLo reject­ed, price trad­ing mid swing
  • Trend
    • Trend is Down 2/3
  • Mar­ket Profile
    • Val­ue cre­at­ed above the previous
  • LN Open
    • LN wider than NY
    • 0.46xASR Above Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • Asia extend­ed and trad­ed higher
    • A TPO accept­ed value
    • 0.53xASR IBR

Addi­tion­al Notes

  • N.A.

Hypos

  • Hypo 1
    • Short
    • Val­ue Accep­tance (risky with D1 demand at VAL)
  • Hypo 2
    • Long
    • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auction
  • Hypo 3
    • Long
    • Auc­tion Fade (risky with a full rota­tion of val­ue but per­haps due to the D1 demand underneath)
  • Hypo 4
    • Short
    • Failed Auc­tion

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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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