01 Nov 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:

Gold 2022 Week 44 Trad­ing Plan

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

Nar­ra­tive

• 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.

Hypos

• 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

• Twit­ter
• Insta­gram