20221109 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,

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:

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


  • 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.


  • 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


Day trader. Tech geek. Sim Racing Enthusiast.

No Comments

Post A Comment