09 Nov 20221109 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 45 Trad­ing Plan

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Larg­er Timeframe

• MN
  • Price trad­ing above body, with­in range
• W1
  • Price made a HH test­ing W1 VWAP in DT and W1 Sup­ply Base lev­el, still trad­ing with­in W1 Supply
  • Price trad­ing above MN/W1 QLo, no test

Nar­ra­tive

• D1
  • D1 Ral­ly tak­ing out D1 Sup­ply, halt­ing at D1 UKC in DT just below D1-C‑S 1719.360 with­in Wide D1 QHi
  • Price trad­ing above Round num­ber of 1700
• H4
  • Big move up giv­ing H4-C‑D 1672.528 (at VAH) tak­ing out pre­vi­ous H4 Swing high, estab­lish­ing a new one with price clos­ing with­in H4 QHi
  • Price fal­ter­ing and start­ed con­sol­i­dat­ing at W1-C‑S 1710.087 BASE
• Trend
  • Trend is Down 2/3
• Mar­ket Profile 
  • Val­ue cre­at­ed below the previous
• LN Open
  • Prev. Day Exceed­ed ADR by 1.68
  • 2.68xASR Above Val­ue, Out­side Range
  • Huge Imbal­ance
  • Open below yesterday’s high
  • Asia formed a Neu­tral Day but most­ly trad­ed lower
  • 0.31xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Late-Sus­tained Auction
• Hypo 2
  • Long
  • (for­ward-test­ing) Failed Auc­tion to Sus­tained Auction
• 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