20221215 Premarket Prep Gold - Bear Market Trader
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20221215 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 and is trad­ing above body, out­side range, at MN VWAP
  • W1
    • Price made a HH test­ing W1 QHi and is trad­ing below body with­in range

Nar­ra­tive

  • D1
    • D1 Ham­mer formed below W1/D1 QHi, price cur­rent­ly prob­ing D1 Demand HiDC
    • D1 Demand End 1777.456 just above D1 VWAP in UT
    • Price trad­ing at D1 200MA
  • H4
    • H4 con­sol­i­da­tion below W1/D1/H4 QHi and break low­er clos­ing with­in D1 demand HiDC, cur­rent­ly test­ing Wide H4 QLo
  • Trend
    • Trend is UP 3/3
  • Mar­ket Profile 
    • Val­ue cre­at­ed above the previous
  • LN Open
    • Prev. Day trad­ed 0.94xADR
    • 1.12xASR Below Val­ue, Out­side Range
    • Large to Huge Imbalance
    • Asia trad­ed lower
    • ADR got exhaust­ed in premarket
    • 1.01xASR Wide IBR tak­ing out D1 Demand End

Addi­tion­al Notes

  • Inter­est Rate Deci­sions today

Hypos

  • Hypo 1
    • Long
    • Failed Auc­tion
  • Hypo 2
    • Short
    • Weak­ness From With­in IBR (for­ward-test rever­sal with­in IBR)
  • Hypo 3
    • Short
    • Late-Sus­tained Auction
  • Hypo 4
    • Long
    • Auc­tion Fade

Clar­i­ty / Con­fi­dence (1 — 5, low to high)

  • 2

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay, but tak­ing it easy

Focus Points for trad­ing development

  • Month­ly Goals 
    • Use SL scaling

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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juan l.

Good evening Lad,

So I am final­ly at the mar­ket pro­file sec­tion and things are start­ing to make alot more sense now. 

Based on what i learned ( so far ). This is how i would frame my bias.
1. Week­ly : Qhi reject­ed twice + bear­ish can­dle pattern
2.Daily: Q hi reject­ed pre­vi­ous two days
3. 4Hr ; con­sol­i­da­tion with sev­er­al sell wicks reject­ing W/D Qhi and yes­ter­day reject­ing H4 Qhi fin­ish­ing last night with a bear­ish engulfing.
4. Lon­don opens low­er out­side of Range/ Val­ue ( large imbal­ance ? , i haven’t used ADR/ASR but im guessing )
5. Lon­don ses­sion IB breaks down on C peri­od. D peri­od con­tin­ues down.
6. Nor­mal / Nor­mal vari­a­tion day , Enter Short Sus­tained auc­tion at end of D peri­od , Stop loss D peri­od can­dle open
7. Take prof­it tar­get: H4 Qlo area ( look­ing left no oppos­ing demand.)
8. pos­si­ble TP outcomes:
A. 3:1 R/R
B. TPO prints 4 let­ters in a row
C. TPO clos­es back into IB short­ly after mean­ing idea is inval­i­dat­ed and trade is closed ( pos­si­ble failed auc­tion play ? )
D. time based exit ( Lon­don lunch time) if price just wanders.

every­thing in hind­sight is easy, but i want my thought process to align with the method.

Is this thought process accept­able ? let me know. Thanks !

juan l.

XAU/USD on MT5 Metaquotes Demo has the tim­ing wrong. That why I had trou­ble look­ing at the MP !!!

same instur­ment on dif­fer­ent plat­forms is caus­ing issues for me. What plat­form do you trade gold on ?

juan l.

Thank you. much better

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