20221017 Premarket Prep Gold - Bear Market Trader
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20221017 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 trad­ing below body, but with­in range, trad­ing above MN QLo
  • W1
    • W1 Bear Engulf giv­ing W1-C‑S 1664.493 Low in Dist. Curve
    • Price trad­ing with­in body
    • Price trad­ing above MN/W1 QLo

Nar­ra­tive

  • D1
    • Price retraced to D1 Base Demand lev­el and closed low­er slight­ly with­in D1 QLo, price has not yet returned to orig­i­nat­ing lev­el of 1630
  • H4
    • Arrival at H4 QLo with some reaction
  • Trend
    • Trend is Down 3/3
  • Mar­ket Profile
    • Val­ue cre­at­ed below pre­vi­ous bracket
  • LN Open
    • Prev. Day Exceed­ed ADR by 1.10
    • 0.02xASR Below Val­ue, Out­side Range, Ambigu­ous open
    • Mod­er­ate to Large Imbalance
    • Asia trad­ed higher
    • 0.42xASR IBR

Addi­tion­al Notes

  • N.A.

Hypos

  • Hypo 1
    • Short
    • Return to Val­ue, Rever­sal, pos­si­ble Failed Auction
  • Hypo 2
    • Long
    • Val­ue Accep­tance, risky
  • 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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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