20230601 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,

20230601 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:

Below Body — With­in Range 

  • Price closed as a Bear­ish Inside Bar although some­what weak with long buy­ing and sell­ing wicks. Sell­ing wick longer. 
  • Price still trad­ing above MN demand Base HiDC

W1 price trading:

With­in Body — Mid Swing 

  • W1 QHi rejected
  • Trad­ing at W1 VWAP in UT


  • D1
    • D1 Con­sol­i­da­tion and break high­er giv­ing D1-C‑D 1944.081
    • Price test­ed but start­ed react­ing at D1-C‑S 1971.156 BASE
  • H4
    • Price trad­ing with­in H4 demand from con­sol­i­da­tion after react­ing at H4 UKC in UT
    • H4 con­sol­i­da­tion and break down at H4 QHi
  • Trend
    • Mixed Trend
  • Mar­ket Profile 
    • 3 over­lap­ping values
  • LN Open
    • 0.14 x ASR- Above Val­ue — With­in Range
    • Mod­er­ate Imbalance
    • Asia formed a Neu­tral Day but trad­ed lower
    • Prev. Day Exceed­ed ADR by 1.15
    • 0.43xASR IBR
    • Price rotat­ed through Value

Addi­tion­al Notes

  • NFP Tomor­row


  • Hypo 1
    • Short
    • Val­ue Acceptance
  • Hypo 2
    • Short
    • Late-Sus­tained Auction
  • Hypo 3
    • Long
    • Auc­tion Fade

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

  • 2

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.

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