04 Nov 20221104 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
• W1
  • Price made a LL and is cur­rent­ly trad­ing with­in body
  • Price trad­ing above MN/W1 QLo (no test)

Nar­ra­tive

• D1
  • Pos­si­ble D1 Phase 1 / 3
  • D1 Three Out­side Down tak­ing out some demand and clos­ing deep­er with­in D1 QLo although leav­ing a long buy­ing wick clos­ing at D1 demand (not con­fi­dent­ly within)
• H4
  • H4 Bull­ish Inside Bar and close high­er above D1 QLo
  • H4 QLo reject­ed, price trad­ing mid swing
• Trend
  • Trend is Down 3/3
• Mar­ket Profile
  • Val­ue cre­at­ed below the previous
• LN Open
  • 1.38xASR Above Val­ue, Out­side Range
  • Huge Imbal­ance
  • Asia trad­ed higher
  • 0.39xASR IBR

Addi­tion­al Notes

• NFP today

Hypos

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