Bear Market Trader | Premarket Prep GOLD XAUUSD - London session
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20220907 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 below body and range hav­ing made a LL
    • MN QHi reject­ed, price trad­ing mid swing
  • W1
    • Price trad­ing below body but with­in range
    • Price trad­ing with­in Wide W1 QLo

Nar­ra­tive

  • D1
    • D1 Bear Engulf giv­ing D1-C‑S 1710.139 Low in Dist. Curve at VAL
    • Price trad­ing with­in D1 QLo above D1 demand (test­ed mul­ti­ple times)
  • H4
    • H4 50MA in DT TC through H4 Evening Star and con­tin­u­a­tion low­er clos­ing with­in H4 QLo
  • Trend
    • Trend is Down 2/3
  • Mar­ket Profile
    • 2 over­lap­ping values
  • LN Open
    • Prev. Day Exceed­ed ADR by 1.35
    • 0.98xASR Below Val­ue, Out­side Range
    • Large Imbal­ance
    • Asia trad­ed lower
    • 0.48xASR IBR

Addi­tion­al Notes

  • N.A.

Hypos

  • Hypo 1
    • Long
    • Mean Rever­sion, Sus­tained Auc­tion, some con­ges­tion in the way
  • Hypo 2
    • Short
    • Return to Val­ue, Rever­sal, pos­si­ble Failed Auction

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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