29 Nov 20221129 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 48 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • Price is trad­ing above body, out­side range, near MN VWAP
• W1
  • Price is trad­ing with­in body after hav­ing made a HH
  • W1 QLo reject­ed, price trad­ing mid swing

Nar­ra­tive

• D1
  • Price reject­ed D1 QHi once more but failed to close with­in D1-C‑D 1741.147 HiDC
• H4
  • H4 Three Inside Up reject­ing H4 QLo clos­ing just below H4-C‑S 1750.746 Near Round No. (although xx50)
• Trend
  • Mixed Trend
• Mar­ket Profile 
  • Wide val­ue cre­at­ed above the pre­vi­ous, pos­si­bly estab­lish­ing a new over­all range
• LN Open
  • Pre­vi­ous Day trad­ed 0.96, pos­si­ble ADR momentum
  • 0.10xASR Below Val­ue, With­in Range
  • Mod­er­ate Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed higher
  • 0.54xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auction
• Hypo 2
  • Long
  • Val­ue Accep­tance. Risky trad­ing into sup­ply, D1 QHi
• Hypo 3
  • Long
  • Auc­tion Fade
• Hypo 4
  • Short
  • Rever­sal, Auc­tion Fade, risky in case of VAA

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