17 Nov 20221117 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 46 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, out­side range, near MN VWAP, pos­si­ble CAR reaction
• W1
  • Price made a HH and start­ed react­ing off W1 Sup­ply, trad­ing with­in body
  • W1 QLo reject­ed, price trad­ing mid swing

Nar­ra­tive

• D1
  • D1 Bear­ish Inside Bar at W1 Sup­ply, with­in Wide D1 Supply
• H4
  • Pos­si­ble H4 Phase 3
  • Price trad­ing with­in Wide D1/H4 QHi (near­ing H4-C‑D 1762.410 HiDC OLD)
  • H4 Inside Bar formed at H4-C‑D 1762.410 HiDC OLD
• Trend
  • Trend is UP 2/3
• Mar­ket Profile 
  • Val­ue cre­at­ed above the previous
• LN Open
  • 0.72xASR Below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed lower
  • 0.26xASR Tight IBR

Addi­tion­al Notes

• N.A. 

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