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

• Twit­ter
• Insta­gram