Bear Market Trader | Premarket Prep GOLD XAUUSD - London session
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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:

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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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