01 Aug 20230801 Premarket Prep Gold

⇧ Detailed Trad­ing Plan for Lon­don Ses­sion 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 31 Trad­ing Plan

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

Larg­er Timeframe

MN price trading:

MN Bull­ish Inside Bar / pos­si­ble consolidation

Price trad­ing with­in body

W1 price trading:

W1 Spin­ning Top at W1 VWAP in UT pos­si­ble CAR

Price trad­ing below body, with­in range, mid swing

Nar­ra­tive

D1

Price trad­ing at D1 Supply

Pos­si­ble Start New R although still trad­ing at D1 VWAP in UT

H4

H4 QLo reject­ed, price react­ed at Sup­ply and is near­ing QLo again

Trend

Trend is UP 2/3

Mar­ket Profile

2 wide over­lap­ping values

LN Open

0.00 x ASR- With­in Value

Prev. Day Exceed­ed ADR by 1.25

Asia trad­ed lower

0.26xASR Tight IBR

Addi­tion­al Notes

N.A.

Hypo 1

Long

Rever­sal — Pos­si­ble Failed Auc­tion — mon­i­tor for continuation

Hypo 2

Short

Rever­sal — Pos­si­ble Failed Auc­tion — mon­i­tor for continuation

Hypo 3

Short

Late-Sus­tained Auction

Hypo 4

Long

Late-Sus­tained Auction

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

1

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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