20230607 Premarket Prep Gold - Bear Market Trader
This is my premarket prep for the London session.
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20230607 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 

W1 price trading:

Above Body — With­in Range — Mid Swing — Wide Q — Price trad­ing at W1 VWAP in UT

Nar­ra­tive

  • D1
    • Pos­si­ble D1 Phase 1 / 3
    • D1 Ham­mer below D1 VWAP in DT
    • Trad­ing at D1 LKC in UT, pos­si­ble devel­op­ing R
    • Wide D1/W1 QHi reject­ed, price trad­ing mid swing
  • H4
    • H4 QLo reject­ed, price trad­ing mid swing
    • Con­sol­i­da­tion at H4 VWAP in R
  • Trend
    • Mixed Trend
  • Mar­ket Profile 
    • Wide val­ue cre­at­ed above the previous
  • LN Open
    • 0.09 x ASR- Below Val­ue — With­in Range
    • Mod­er­ate Imbalance
    • Asia trad­ed higher
    • 0.20xASR Tight IBR
    • Pre­mar­ket formed a H4 Bear Engulf

Addi­tion­al Notes

  • N.A.

Hypos

  • Hypo 1
    • Short
    • Rever­sal — Pos­si­ble Failed Auction
  • Hypo 2
    • Long
    • Val­ue Acceptance
  • Hypo 3
    • Short
    • Sus­tained Auction
  • Hypo 4
    • Long
    • Auc­tion Fade

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

  • 1

Mind­ful Trad­ing (1–5 Bad to Good)

  • 3

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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