16 Jun 20230616 Premarket Prep Gold

#Fin­twit #XAUUSD #GOLD #VWAP #Kelt­ner #Mar­ket­Pro­file #Order­flow

⇧ More info with­in link ⇧

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 24 Trad­ing Plan

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Larg­er Timeframe

MN price trading:

Price trad­ing below body, with­in range

W1 price trading:

Price trad­ing above body with­in range after it took out W1 demand HiDC

W1 QHi reject­ed, price trad­ing mid swing

Price trad­ing at W1 VWAP in UT

Nar­ra­tive

D1

Price took out D1 demand and estab­lished a new one giv­ing D1-C‑D 1944.335 momen­tum through D1 Morn­ing Star 

Wide D1/W1 QHi rejec­tion, price trad­ing mid swing

H4

H4 Bull Engulf clos­ing with­in H4 QLo giv­ing H4-C‑D 1958.484 trad­ing into OLD h4 Sup­ply with D1 Sup­ply right above

Trend

Mixed Trend

Mar­ket Profile

Val­ue cre­at­ed below the pre­vi­ous and below over­all range

LN Open

1.94 x ASR- Above Val­ue — Out­side Range

Huge Imbal­ance

Asia trad­ed low­er although formed a Neu­tral Day

Prev. Day Exceed­ed ADR by 1.65

0.26xASR Tight IBR

Addi­tion­al Notes

N.A.

Hypos

Hypo 1

Long

Late-Sus­tained Auction

Hypo 2

Short

Rever­sal — Pos­si­ble Failed Auc­tion — pos­si­ble continuation

Hypo 3

Short

Auc­tion Fade

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

2

Mind­ful Trad­ing (1–5 Bad to Good)

2

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