21 Sep 20220921 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 made a LL tak­ing out MN demand and is trad­ing below body and range
  • Price reach­ing for MN 50MA in UT
• W1
  • W1 DBD clos­ing at W1 200MA in UT
  • W1 QHi reject­ed (shar­ing lev­els with MN), price trad­ing mid swing

Nar­ra­tive

• D1
  • D1 Three Out­side Down giv­ing D1-C‑S 1675.507 Low in Dis­tr. Curve, price has already retraced to new­ly formed Supply
• H4
  • Pos­si­ble H4 Phase 1 / 3
• Trend
  • Trend is Down 3/3
• Mar­ket Profile
  • Val­ue cre­at­ed on top of the previous
• LN Open
  • 0.07xASR Above Val­ue, WIth­in Range
  • Mod­er­ate Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed lower
  • 0.23xASR Tight IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auction
• Hypo 2
  • Short
  • Val­ue Acceptance
• Hypo 3
  • Long
  • Auc­tion Fade

Clar­i­ty / Con­fi­dence (1 — 5, low to high)

• 2

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing a bit tired so I will take it easy. Plus I have a meet­ing lat­er into the session. 

Focus Points for trad­ing development

• Month­ly Goals
  • Use SL scaling

• Twit­ter
• Insta­gram