20221024 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,

20221024 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, with­in range, trad­ing at MN 50MA in UT, above MN QLo
  • W1
    • W1 Inside Bar with long buy­ing wick (that almost took out W1 Demand End), price trad­ing above body, with­in range after mak­ing a HH


  • D1
    • Big D1 Bull Engulf clos­ing above D1 QLo, price test­ing W1/D1 Supply
  • H4
    • Price took out some sup­ply but then react­ed off a high­er sup­ply clos­ing as an Invert­ed Ham­mer clos­ing below H4 QHi
    • Pre­mar­ket formed a lit­tle base
  • Trend
    • Trend is Down 2/3
  • Mar­ket Profile
    • Val­ues in DT
  • LN Open
    • Prev. Day Exceed­ed ADR by 1.50
    • 1.69 ASR Above Val­ue, Out­side Range
    • Huge Imbal­ance
    • Asia trad­ed down
    • 0.58xASR IBR

Addi­tion­al Notes

  • N.A.


  • Hypo 1
    • Short
    • Sus­tained Auction
  • Hypo 2
    • Long
    • Failed Auc­tion
  • Hypo 3
    • Long
    • Rever­sal, Auc­tion Fade
  • Hypo 4
    • Long
    • Late-Sus­tained Auction

Clar­i­ty / Con­fi­dence (1 — 5, low to high)

  • 2

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing a bit tired, will take it easy

Focus Points for trad­ing development

  • Month­ly Goals
    • Use SL scaling


Day trader. Tech geek. Sim Racing Enthusiast.

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