20230412 Premarket Prep Gold - Bear Market Trader
This is my premarket prep for the London session.
day trade, day trading, forex, FX, trade plan, trading plan, XAU USD, XAUUSD, GOLD, premarket prep, pre-market prep, tradingforex, traderlifestyle, daytraderlife,

20230412 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 above body, above range, with­in MN Sup­ply, with­in MN QHi
  • W1
    • Price trad­ing above body, with­in range, with­in W1 Sup­ply, with­in W1 QHi 


  • D1
    • Price start­ed react­ing off D1 Sup­ply after a Bull­ish Inside bar was formed yes­ter­day giv­ing D1-C‑D 2003.630 MOM
  • H4
    • H4 Invert­ed Ham­mer at D1 Supply
  • Trend
    • Trend is UP 3/3
  • Mar­ket Profile 
    • 2 over­lap­ping values
  • LN Open
    • 0.56xASR Above Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • 0.34xASR IBR
    • Asia trad­ed High­er but pulled back and closed below H4/M30 QHi

Addi­tion­al Notes

  • Mar­ket Pro­file was set to the wrong time and thus info is incorrect


  • Hypo 1
    • Long
    • Pos­si­ble Return to Val­ue, Rever­sal or Failed Auction
  • Hypo 2
    • Short
    • Late-Sus­tained Auc­tion, pos­si­ble weak­ness from with­in IBR, mon­i­tor for continuation
  • Hypo 3
    • Long
    • Auc­tion Fade

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

  • 1

Mind­ful Trad­ing (lack of sleep?)

  • Still feel­ing a bit under the weather
  • Not going to take riski­er trades
  • I will focus on the 2nd DTTZ

Focus Points for trad­ing development

  • Month­ly Goals 
    • Use SL scaling


Day trader. Tech geek. Sim Racing Enthusiast.

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