20220913 Premarket Prep Gold - Bear Market Trader
day trade, day trading, forex, FX, trade plan, trading plan, XAU USD, XAUUSD, GOLD, premarket prep, pre-market prep, tradingforex, traderlifestyle, daytraderlife,

20220913 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 but is trad­ing back with­in body
  • W1
    • W1 Inside Bar with­in W1 Demand and Wide W1 QLo
    • Price trad­ing above body after hav­ing made a HH


  • D1
    • Pos­si­ble D1 Phase 1
    • Price closed high­er above D1 QLo but again leav­ing a longer sell­ing wick react­ing off D1 VWAP in DT get­ting near to D1 Sup­ply Base lev­el 1735.993.
  • H4
    • H4 Bear Engulf at H4 QHi with con­tin­u­a­tion giv­ing H4-C‑S 1727.252 with­in Value
  • Trend
    • Trend is Down 2/3
  • Mar­ket Profile
    • 2 over­lap­ping values
  • LN Open
    • Prev. Day Exceed­ed ADR by 1.05
    • Ambigu­ous Open, 0.01xASR Below Val­ue, With­in Range
    • Mod­er­ate Imbal­ance, pos­si­ble respon­sive activity 
    • A TPO accept­ed val­ue, sup­ply with­in value
    • Lon­don formed a Neu­tral Day but most­ly trad­ed lower
    • 0.22xASR Tight IBR

Addi­tion­al Notes

  • N.A.


  • Hypo 1
    • Short
    • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auc­tion (pos­si­ble continuation)
  • Hypo 2
    • Long
    • Val­ue Acceptance
  • Hypo 3
    • Long
    • Failed Auc­tion
  • Hypo 4
    • Short
    • Sus­tained 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


Day trader. Tech geek. Sim Racing Enthusiast.

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