Bear Market Trader | Premarket Prep GOLD XAUUSD - London session
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20220908 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 made a LL and is cur­rent­ly trad­ing with­in body
    • MN QHi reject­ed, price trad­ing mid swing
  • W1
    • Price trad­ing with­in body
    • Price trad­ing with­in Wide W1 QLo

Nar­ra­tive

  • D1
    • D1 Bull Engulf giv­ing D1-C‑D 1712.805 clos­ing above D1 QLo although did not take out Sup­ply that is low in dis­tr. Curve.
  • H4
    • H4 con­sol­i­da­tion above new­ly formed D1 demand
    • H4 QLo, reject­ed, price trad­ing mid swing
  • Trend
    • Trend is Down 2/3
  • Mar­ket Profile
    • Val­ue cre­at­ed below the previous
  • LN Open
    • Prev. Day Exceed­ed ADR by 1.33
    • 1.13xASR Above Val­ue, Out­side Range
    • Large Imbal­ance
    • Asia formed a Neu­tral Day
    • 0.44xASR IBR

Addi­tion­al Notes

  • N.A.

Hypos

  • Hypo 1
    • Short
    • Late-Sus­tained Auction
  • Hypo 2
    • Long
    • Failed Auc­tion, mon­i­tor for pos­si­ble continuation
  • Hypo 3
    • Long
    • 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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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