20221018 Premarket Prep Gold - Bear Market Trader
day trade, day trading, forex, FX, trade plan, trading plan, XAU USD, XAUUSD, GOLD, premarket prep, pre-market prep, tradingforex, traderlifestyle, daytraderlife,
12060
post-template-default,single,single-post,postid-12060,single-format-standard,vcwb,bridge,ajax_fade,page_not_loaded,,qode-title-hidden,side_area_uncovered_from_content,qode-theme-ver-9.5,hide_inital_sticky,wpb-js-composer js-comp-ver-4.12,vc_responsive

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:

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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

No Comments

Post A Comment

The maximum upload file size: 128 MB. You can upload: image, audio, video, document, spreadsheet, interactive, text, archive, code, other. Links to YouTube, Facebook, Twitter and other services inserted in the comment text will be automatically embedded. Drop files here