15 May 20230515 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 20 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 

W1 price trading:

Above Body — With­in Range — W1 Invert­ed Ham­mer pos­si­ble Base

Nar­ra­tive

• D1
  • Price trad­ing above D1 VWAP in UT coin­cid­ing with D1-C‑D 2004.826 with­in value
  • D1 QHi reject­ed, price trad­ing mid swing
• H4
  • H4 QLo reject­ed, price trad­ing mid swing
• Trend
  • Trend is UP 2/3
• Mar­ket Profile 
  • Val­ue cre­at­ed below the previous
• LN Open
  • 0.39 x ASR- Above Val­ue — Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia trad­ed higher
  • 0.19xASR Very Tight IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Late-Sus­tained Auction
• Hypo 2
  • Long
  • Rever­sal — Pos­si­ble Failed Auc­tion — (For­ward-test: FA to SA)
• Hypo 3
  • Short
  • Failed Auc­tion
• Hypo 4
  • Long
  • Auc­tion Fade

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

• 1

Mind­ful Trad­ing (1–5 Bad to Good)

• 2

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram