20230517 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,
17690
post-template-default,single,single-post,postid-17690,single-format-standard,bridge,ajax_fade,page_not_loaded,,qode-title-hidden,side_area_uncovered_from_content,qode-theme-ver-9.5,hide_inital_sticky

20230517 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:

With­in Body — Price made a HH and is now trad­ing with­in body

W1 price trading:

Below Body — Below Range 

Nar­ra­tive

  • D1
    • D1 con­tin­u­a­tion giv­ing D1-C‑S 2010.761 BASE (right above VAH) clos­ing with­in Wide D1 demand and below D1 50MA in UT
    • Price near­ing D1 QLo
  • H4
    • Price trad­ing with­in OLD H4 demand with­in WIde H4 QLo
  • Trend
    • Trend is UP 2/3
  • Mar­ket Profile 
    • Val­ue cre­at­ed below the previous
  • LN Open
  • 1.05 x ASR- Below Val­ue — Out­side Range
  • Large Imbal­ance
  • Prev. Day Exceed­ed ADR by 1.47
  • Asia formed a Neu­tral Day
  • 0.18xASR Very Tight IBR

Addi­tion­al Notes

  • N.A. 

Hypos

  • Hypo 1
    • Long
    • Failed Auc­tion (to pos­si­ble SA)
  • Hypo 2
    • Long
    • Auc­tion Fade
  • Hypo 3
    • Short
    • Late-Sus­tained Auction

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

  • 1

Mind­ful Trad­ing (1–5 Bad to Good)

  • 1

Focus Points for trad­ing development

  • Month­ly Goals 
    • Use SL scaling

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

2 Comments
  • T3chAddict
    Posted at 11:21h, 17 May

    C: extend­ed below but closed with­in IB as a pos­si­ble Base
    D: Extend­ed low­er again
    E: SA
    F: SA

  • T3chAddict
    Posted at 12:16h, 17 May

    G: made a Bull Engulf clos­ing below IB
    H: H closed slight­ly with­in, pos­si­ble con­tin­u­a­tion low­er but with Bull Engulf giv­ing con­ges­tion it’s not the smartest move to go short here.

Post A Comment