06 Jun 20230606 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:

Gold 2023 Week 23 Trad­ing Plan

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 

W1 price trading:

Above Body — With­in Range — Mid Swing — Wide Q 

Nar­ra­tive

• D1
  • Pos­si­ble D1 Phase 1 / 3
  • No imme­di­ate con­tin­u­a­tion to D1 Bear Engulf at D1 VWAP in DT
• H4
  • BIg move high­er from D1 demand, price failed to close above H4 VWAP and start­ed consolidating
• Trend
  • Mixed Trend
• Mar­ket Profile 
  • Val­ue cre­at­ed below the previous
• LN Open
  • 1.02 x ASR- Above Val­ue — Out­side Range
  • Large Imbal­ance
  • Asia formed a Neu­tral Day but trad­ed lower
  • Prev. Day Exceed­ed ADR by 1.23
  • 0.27xASR IBR

Addi­tion­al Notes

• N.A. 

Hypos

• Hypo 1
  • Short
  • Sus­tained Auction
• Hypo 2
  • Long
  • Late-Sus­tained Auction
• Hypo 3
  • Long
  • Auc­tion Fade
• Hypo 4
  • Short
  • 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

• Twit­ter
• Insta­gram