20221101 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,

20221101 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
    • Last month closed as an Invert­ed Ham­mer below MN 50MA in UT although price failed to make a LL
  • W1
    • Price test­ed W1 Base Demand lev­el mul­ti­ple times
    • Price closed as a pos­si­ble con­sol­i­da­tion although did close low­er form­ing a pos­si­ble DBD
    • Price has made a LL and is trad­ing below body, below range
    • Price trad­ing above MN/W1 QLo


  • D1
    • D1 Three Inside Down (at D1 VWAP in DT)  with some fol­low-through although price failed to close with­in D1-C‑D 1630
    • Price closed with­in D1 QLo
  • H4
    • H4 DBD giv­ing H4-C‑S 1641.367 Base LiDC (price took it out in premarket)
    • H4 Bull Engulf at Wide H4 QLo with con­tin­u­a­tion high­er (clos­ing above D1 QLo as well)
  • Trend
    • Trend is Down 3/3
  • Mar­ket Profile
    • Val­ues in DT
  • LN Open
    • LN wider than NY
    • 0.41xASR Above Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • Asia formed a Neu­tral Day but trad­ed higher
    • 0.54xASR IBR

Addi­tion­al Notes

  • N.A.


  • Hypo 1
    • Long
    • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auction
  • Hypo 2
    • Short
    • Val­ue Acceptance
  • Hypo 3
    • Short
    • Failed Auc­tion
  • Hypo 4
    • Long
    • Late-Sus­tained Auction

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.

0 0 votes
Article Rating
Notify of

Inline Feedbacks
View all comments
Would love your thoughts, please comment.x