20221206 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,
13601
post-template-default,single,single-post,postid-13601,single-format-standard,vcwb,bridge,ajax_fade,page_not_loaded,,qode-title-hidden,side_area_uncovered_from_content,qode-theme-ver-9.5,hide_inital_sticky,wpb-js-composer js-comp-ver-4.12,vc_responsive

20221206 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 made a HH trad­ing at MN VWAP and is cur­rent­ly trad­ing with­in Body
  • W1
    • W1 retraced to pre­vi­ous week’s 50% mark after hav­ing made a HH with near-touch of W1 QHi (coin­cid­ing with W1 50MA in R)

Nar­ra­tive

  • D1
    • D1 con­sol­i­da­tion with break down at D1-C‑S 1808.713, W1/D1 QHi giv­ing D1-C‑S 1796.779 (near Round No.)
    • Price trad­ing near D1 VWAP in UT
  • H4
    • H4 QHi reject­ed, price trad­ing mid swing although not far above H4 QLo
    • Some demand cre­at­ed at H4 50MA in UT giv­ing H4-C‑D 1769.323
  • Trend
    • Trend is UP 3/3
  • Mar­ket Profile 
    • Val­ue cre­at­ed slight­ly below the previous
  • LN Open
    • Prev. Day Exceed­ed ADR by 1.85
    • 1.63xASR Below Val­ue, Out­side Range
    • Huge Imbal­ance
    • Asia formed a Neu­tral Day
    • 0.26xASR Tight IBR

Addi­tion­al Notes

  • N.A.

Hypos

  • Hypo 1
    • Short
    • Late-Sus­tained Auc­tion, pos­si­ble Failed Auc­tion with continuation
  • Hypo 2
    • Long
    • Late-Sus­tained Auction
  • Hypo 3
    • Long
    • Auc­tion Fade
  • Hypo 4
    • Short
    • 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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

2 Comments
  • juan l.
    Posted at 14:00h, 06 December

    what has more weight the Q hi’s and week­ly demand zone above the price ? or the dif­fer­ent time frame sup­ply zones below ?

  • T3chAddict
    Posted at 14:46h, 06 December

    Ha that is not co clear-cut. I think you mean sup­ply zones above and demand zones below 🙂
    When you ask what has more weight it depends on how often those supplies/demands have been test­ed. When an area gets test­ed too many times it is more indica­tive of that area being weak. Same with QHis and QLo. Although there you should also take note of how wide the Swing High/Low is. If the swing high/low is wide there is a high­er prob­a­bil­i­ty for a con­tin­u­a­tion then a rever­sal. I hope that is some­what clear although as you have start­ed the course new­ly I think it will make more sense when you get through those lec­tures more.

Post A Comment

The maximum upload file size: 128 MB. You can upload: image, audio, video, document, spreadsheet, interactive, text, archive, code, other. Links to YouTube, Facebook, Twitter and other services inserted in the comment text will be automatically embedded. Drop files here