28 Sep 20220928 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 39 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • Price trad­ing below body, below range, trad­ing at MN 50MA in UT near­ing MN QLo
• W1
  • Price trad­ing below body, below range, test­ing W1 Demand Base level
  • MN/W1 QLo not far below

Nar­ra­tive

• D1
  • Pos­si­ble D1 Phase 4
  • Yes­ter­day closed as an Invert­ed D1 Hammer
• H4
  • Price test­ed H4 sup­ply and trad­ed low­er clos­ing with­in H4 demand
• Trend
  • Trend is Down 3/3
• Mar­ket Profile
  • Val­ue cre­at­ed below the pre­vi­ous although touching
• LN Open
  • 0.96xASR Below Val­ue, Out­side Range
  • Large Imbal­ance
  • Open below yesterday’s low
  • Asia formed a Neu­tral Day but most­ly trad­ed lower
  • 0.64xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Sus­tained Auc­tion, tricky with con­ges­tion in the way
• Hypo 2
  • Short
  • Failed Auc­tion
• Hypo 3
  • Short
  • Return to Val­ue, Rever­sal, Auc­tion Fade
• Hypo 4
  • Short
  • Late-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

• Twit­ter
• Insta­gram