20221205 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,

20221205 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, out­side range, at MN VWAP
  • W1
    • Price took out W1 Sup­ply in premarket
    • Price trad­ing above body, out­side range, test­ing Wide W1 QHi


  • D1
    • Price took out D1 Sup­ply but is trad­ing at the next D1-C‑S 1808.713
    • Price test­ing Wide W1/D1 QHi
    • Price trad­ing at D1 200MA
  • H4
    • H4 demand cre­at­ed above H4 VWAP in UT giv­ing H4-C‑D 1798.086 Near Round No. 1800 (below VAL, with­in Range)
    • H4 Bear­ish Inside Bar at D1 Sup­ply, price trad­ing at H4 demand HiDC around 1800
  • Trend
    • Trend is UP 3/3
  • Mar­ket Profile 
    • Val­ues in UT
  • LN Open
    • Prev. Day Exceed­ed ADR by 1.15
    • Open With­in Value
    • Asia trad­ed higher
    • 0.27xASR Tight IBR
    • A TPO closed below VAL with­in LTF demand

Addi­tion­al Notes

  • N.A.


  • Hypo 1
    • Long
    • Failed Auc­tion, pos­si­ble 3‑I Day
  • Hypo 2
    • Short
    • Late-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.

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