20230516 Premarket Prep Gold - Bear Market Trader
This is my premarket prep for the London session.
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20230516 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 trading:

Above Body — With­in Range — MN Invert­ed Ham­mer clos­ing above pre­vi­ous range high

W1 price trading:

Below Body — With­in Range — W1 Spin­ning Top with long sell­ing wick


  • D1
    • D1 QHi reject­ed, price trad­ing mid swing
    • Price trad­ing above D1-C‑D 2004.826 coin­cid­ing with D1 50MA in UT
  • H4
    • H4 con­sol­i­da­tion and break down giv­ing H4-C‑S 2015.877 (with­in val­ue at PPOC) clos­ing with­in wide H4 QLo above H4 200MA in UT
  • Trend
    • Trend is UP 2/3
  • Mar­ket Profile 
    • Val­ue cre­at­ed above the previous
  • LN Open
  • 0.40 x ASR- Below Val­ue — Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia trad­ed higher
  • Frank­furt trad­ed lower
  • 0.26xASR Tight IBR

Addi­tion­al Notes

  • N.A.


  • Hypo 1
    • Short
    • Rever­sal — Pos­si­ble Failed Auc­tion — mon­i­tor for continuation
  • Hypo 2
    • Long
    • Late-Sus­tained Auc­tion — risky — mon­i­tor for VAA
  • Hypo 3
    • Long
    • Failed Auc­tion
  • Hypo 4
    • Long
    • Auc­tion Fade

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

  • 1

Mind­ful Trad­ing (1–5 Bad to Good)

  • 3

Focus Points for trad­ing development

  • Month­ly Goals 
    • Use SL scaling


Day trader. Tech geek. Sim Racing Enthusiast.

  • T3chAddict
    Posted at 10:00h, 16 May

    C: Formed a pos­si­ble Base, weak M15 Bear Engulf
    D: Closed as a pos­si­ble con­sol­i­da­tion still no extension.

  • T3chAddict
    Posted at 10:34h, 16 May

    E closed as a Weak Bear Engulf, still no extension

  • T3chAddict
    Posted at 11:02h, 16 May

    F: Con­sol­i­da­tion con­tin­ued. No IB extension.

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