20230608 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,
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20230608 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:

With­in Body — W1 Ham­mer at W1 VWAP in UT — Mid swing

Nar­ra­tive

  • D1
    • D1 Bear Engulf at D1-C‑S 1971.56 coin­cid­ing with D1 VWAP in DT clos­ing with­in D1-C‑D 1944.081
    • Wide D1/W1 QHi reject­ed, price trad­ing mid swing
    • Pos­si­ble D1 Phase 1 / 3
  • H4
    • H4 Bull Engulf with­in H4 QLo fail­ing to close above
    • Pos­si­ble H4 R
  • Trend
    • Mixed Trend
  • Mar­ket Profile 
    • Wide val­ue cre­at­ed over­lap­ping the previous
  • LN Open
    • 0.94 x ASR- Below Val­ue — Out­side Range
    • Large Imbal­ance
    • Prev. Day Exceed­ed ADR by 1.46
    • Asia trad­ed higher
    • 0.28xASR Tight IBR

Addi­tion­al Notes

  • N.A.

Hypos

  • Hypo 1
    • Long
    • Sus­tained Auction
  • Hypo 2
    • Short
    • Failed Auc­tion — mon­i­tor for pos­si­ble FA to SA
  • Hypo 3
    • Short
    • Auc­tion Fade
  • Hypo 4
    • Short
    • Late-Sus­tained Auction

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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