27 Jul 20230727 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 30 Trad­ing Plan

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

Larg­er Timeframe

MN price trading:

Price is test­ing new­ly formed MN Sup­ply Momen­tum, cur­rent­ly trad­ing above body

W1 price trading:

W1 QHi reject­ed, price trad­ing mid swing

Price took out a W1 Sup­ply and closed as a Ham­mer although fail­ing to close above W1 VWAP in UT (pos­si­bil­i­ty for CAR)

Nar­ra­tive

D1

Price fol­lowed-through on D1 Bull Engulf at D1 VWAP in UT TC CAS cur­rent­ly prob­ing D1-C‑S 1977.299

H4

H4 stair­case test­ing H4 QHi and D1 Supply

H4-C‑D 1971.648 at PPOC

Trend

Trend is UP 3/3

Mar­ket Profile

Val­ue cre­at­ed above the previous

LN Open

0.22 x ASR- Above Val­ue — Out­side Range

Mod­er­ate to Large Imbalance

Prev. Day Exceed­ed ADR by 1.16

Asia trad­ed higher

0.77xASR Wide IBR

Addi­tion­al Notes

N.A.

Hypo 1

Short

Rever­sal — Pos­si­ble Failed Auction

Hypo 2

Long

Strength From With­in IBR

Hypo 3

Long

Late-Sus­tained Auction

Hypo 4

Short

Auc­tion Fade

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

2

Mind­ful Trad­ing (1–5 Bad to Good)

3

Don’t know what all the abbre­vi­a­tions are? Check out my lexicon:

Lex­i­con

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