20221014 Premarket Prep Gold - Bear Market Trader
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20221014 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 start­ed react­ing off MN 50MA in UT and start­ed trad­ing with­in body
  • W1
    • W1 Three Out­side Up with longer sell­ing wick, price test­ing new­ly formed demand of W1-C‑D 1660.658
    • W1 QHi reject­ed, price trad­ing mid swing


  • D1
    • Price reached a D1 Base lev­el at 1660.658 coin­cid­ing with W1 momen­tum demand
    • Pos­si­ble con­sol­i­da­tion, although price closed as a weak Bear Engulf with a long buy­ing wick
  • H4
    • Pos­si­ble H4 phase 1 / 3
  • Trend
    • Trend is Down 3/3
  • Mar­ket Profile
    • 3‑day brack­et although yesterday’s slight­ly above the previous
  • LN Open
    • Prev. Day Exceed­ed ADR by 1.65
    • 0.13xASR Below Val­ue, With­in Range
    • Mod­er­ate Imbalance
    • Asia formed a Neu­tral Day but most­ly trad­ed higher
    • 0.39xASR IBR

Addi­tion­al Notes

  • N.A.


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


Day trader. Tech geek. Sim Racing Enthusiast.

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