07 Jul 20230707 Premarket Prep Gold

⇧ Detailed plan with HYPOS out­lined with­in link ⇧

#Fin­twit #XAUUSD #GOLD #VWAP #Kelt­ner #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 27 Trad­ing Plan

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

Larg­er Timeframe

MN price trading:

MN Three Out­side Down giv­ing MN-C‑S 1965.506 Momen­tum clos­ing with­in MN demand HiDC

Price trad­ing below body, with­in range, with­in demand

W1 price trading:

W1 VWAP in UT BD

Last week closed as a W1 Ham­mer, price trad­ing below body, with­in range

W1 QHi reject­ed, price trad­ing mid swing

Nar­ra­tive

D1

D1 Bear Engulf at D1 VWAP in DT TC with slight fol­low-through (although fail­ing to close with­in D1 demand) test­ing D1 200MA in UT

D1 VWAP DT 200MA UT Apex nearing

Wide D1/W1 QHi reject­ed, price trad­ing mid swing

H4

Big H4 Bear Engulf with no direct fol­low-through test­ing H4 QLo

Trend

Mixed Trend

Mar­ket Profile

Very wide val­ue cre­at­ed below the pre­vi­ous, trad­ing with­in over­all range

LN Open

0.19 x ASR- Below Val­ue — With­in Range

Mod­er­ate Imbalance

Asia trad­ed higher

Prev. Day Exceed­ed ADR by 1.51

0.31xASR IBR

Addi­tion­al Notes

NFP Today

Hypo 1

Short

Rever­sal — Pos­si­ble Failed Auction

Hypo 2

Long

Val­ue Accep­tance risky with D1 sup­ply with­in Value

Hypo 3

Short

Sus­tained Auc­tion — Late-Sus­tained Auc­tion preferred

Hypo 4

Long

Rever­sal — Pos­si­ble Failed Auction

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

2

Mind­ful Trad­ing (1–5 Bad to Good)

3

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