24 Apr 20230424 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 2023 Week 17 Trad­ing Plan

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

Larg­er Timeframe

MN price trading:

Above Body — With­in Range — With­in Sup­ply — With­in QHi -

W1 price trading:

Below Body — With­in Range — With­in QHi — Wide Q -

Nar­ra­tive

• D1
  • D1 Con­sol­i­da­tion and break down
  • Price trad­ing above D1 UKC in UT
  • Price trad­ing with­in Wide D1 QHi
• H4
  • Price trad­ing at H4 QLo, ini­tial reac­tion with no fol­low-through. Instead a close back with­in QLo
• Trend
  • Trend is UP 3/3
• Mar­ket Profile 
  • Val­ue cre­at­ed below the pre­vi­ous, pos­si­bly estab­lish­ing a new range
• LN Open
  • 0.30xASR Below Val­ue — Out­side Range
  • Mod­er­ate to Large Imbalance
  • Prev. Day Exceed­ed ADR by 1.35
  • Asia trad­ed lower
  • 0.27xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion — pos­si­ble Reversal
• Hypo 2
  • Long
  • Val­ue Accep­tance risky with W1 sup­ply at just below VAL
• 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

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram