05 Oct 20221005 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 40 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • Price trad­ing above body but with­in range
• W1
  • Price reached a W1 Base Sup­ply lev­el pos­si­bly devel­op­ing a Three Out­side Up

Nar­ra­tive

• D1
  • Price trad­ing at D1-C‑S 1719.360, with­in D1 QHi coin­cid­ing with D1 50MA in DT
• H4
  • Con­sol­i­da­tion at D1 Supply
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • Val­ue cre­at­ed extend­ed above the previous
• LN Open
  • 0.80xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia trad­ed lower
  • 0.56xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Sus­tained Auc­tion, pos­si­ble con­tin­u­a­tion to VAA
• Hypo 2
  • Long
  • Return to Val­ue, Rever­sal, pos­si­ble Failed Auction

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