18 Oct 20221018 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 42 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, trad­ing at MN 50MA in UT
  • MN QHi reject­ed, price trad­ing mid swing
• W1
  • W1 Bear Engulf giv­ing W1-C‑S 1664.493 Low in Dist. Curve
  • MN/W1 QHi reject­ed, price trad­ing mid swing

Nar­ra­tive

• D1
  • D1 Ham­mer formed react­ing off New­ly formed Sup­ply clos­ing above D1 QLo
• H4
  • H4 Bear Engulf with no fol­low-through, instead a Bull Engulf (reject­ing H4 QLo) but with longer sell­ing wick
• Trend
  • Trend is Down 3/3
• Mar­ket Profile
  • 2 over­lap­ping values
• LN Open
  • Open With­in Value
  • Asia formed a Neu­tral Day but most­ly trad­ed higher
  • 0.31xASR IBR
  • C TPO already extend­ed IB to the upside

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Rever­sal, pos­si­ble Failed Auc­tion, pos­si­ble 3‑I Day
• Hypo 2
  • Long
  • Late-Sus­tained Auction
• Hypo 3
  • Long
  • Auc­tion Fade, part of 3‑I Day
• Hypo 4
  • Short
  • 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

• Twit­ter
• Insta­gram