20230526 Premarket Prep Gold - Bear Market Trader
This is my premarket prep for the London session.
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20230526 Premarket Prep Gold

#Fin­twit #XAUUSD #GOLD #Mar­ket­Pro­file #Order­flow

Larg­er Timeframe

MN price trading:

Below Body — Below Range 

W1 price trading:

Below Body — Below Range — price took out W1 Demand HiDC and is test­ing W1 VWAP in UT (with­in over­all range)

Nar­ra­tive

  • D1
    • Price closed deep­er with­in D1-C‑D 1965.526 (also below pre­vi­ous struc­ture low) near­ing D1 Demand End 1934.002
    • Trad­ing with­in Wide D1 QLo
  • H4
    • H4 Morn­ing Star at OLD H4 demand 
    • Price trad­ing with­in Wide D1/H4 QLo
    • H4-C‑S 1958.939 at VAL
  • Trend
    • Trend is DOWN 2/3
  • Mar­ket Profile 
    • Val­ue cre­at­ed with­in over­all range (bot­tom)
  • LN Open
    • 0.55 x ASR- Below Val­ue — Out­side Range
    • Mod­er­ate to Large Imbalance
    • Prev. Day Exceed­ed ADR by 1.19
    • Asia formed a Neu­tral Day but trad­ed higher
    • 0.48xASR IBR
    • ADR Exhaus­tion right above

Addi­tion­al Notes

  • Pos­si­ble Fri­day profit-taking

Hypos

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

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

  • 2

Mind­ful Trad­ing (1–5 Bad to Good)

  • 2

Focus Points for trad­ing development

  • Month­ly Goals 
    • Use SL scaling

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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