20 Sep 20220920 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:

Gold 2022 Week 38 Trad­ing Plan

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Larg­er Timeframe

• MN
  • Price took out MN demand
  • Price is cur­rent­ly trad­ing below body and range
  • Price near­ing MN 50MA in UT
• W1
  • W1 DBD giv­ing W1-C‑S 1710.087 BASE (near Round No.)
  • Price closed at W1 200MA in UT
  • Price trad­ing below body, but with­in range

Nar­ra­tive

• D1
  • D1 Inside Bar fol­lowed by a Hammer
  • D1 QHi reject­ed, price trad­ing mid swing (shar­ing same lev­els as MN/W1 QLo)
• H4
  • H4 Bear Engulf at pre­vi­ous sup­ply giv­ing H4-C‑S 1675.712 coin­cid­ing with H4 H4 VWAP in DT
  • H4-C‑D 1663.773 with­in Val­ue at VAH
• Trend
  • Trend is Down 3/3
• Mar­ket Profile
  • 2 over­lap­ping values
• LN Open
  • 0.57xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day but trad­ed lower
  • 0.28xASR Tight IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Late-Sus­tained Auc­tion, pos­si­ble continuation
• Hypo 2
  • Long
  • Return to Val­ue, Rever­sal, pos­si­ble 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

• Twit­ter
• Insta­gram