03 Nov 20221103 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
  • Price trad­ing with­in Body, above MN QLO (no test)
• W1
  • Price trad­ing below body, out­side range
  • Price trad­ing above MN/W1 QLo (no test)

Nar­ra­tive

• D1
  • D1 Bear­ish Inside Bar with long sell­ing wick clos­ing back with­in D1 QLo
• H4
  • Price test­ed H4 QHi but closed with­in H4 QLo, with­in H4 demand
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • 2 over­lap­ping values
• LN Open
  • Prev. Day Exceed­ed ADR by 1.43
  • 1.32xASR Below Val­ue, Out­side Range
  • Huge Imbal­ance
  • Asia trad­ed higher
  • 0.44xASR IBR

Addi­tion­al Notes

• NFP tomor­row

Hypos

• Hypo 1
  • Short
  • Late-Sus­tained Auction
• Hypo 2
  • Long
  • Failed Auc­tion, pos­si­ble continuation
• Hypo 3
  • Long
  • 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