01 May 20240501 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 2024 Week 18 Trad­ing Plan

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

Nar­ra­tive

MN

Month­ly can­dle closed as a Bull­ish leav­ing a long sell­ing wick

D1

No Q Swing

D1 VWAP UT BD to CAR and close low­er tak­ing out demand HiDC giv­ing D1-C‑S 2334.75

Next con­ges­tion at 50MA coin­cid­ing with some old base demand

H4

No Q Swing

Price trad­ing at H4 200MA UT

Trend

Trend is UP 2/3

Mar­ket Profile

Val­ue cre­at­ed below the previous

Trad­ing below over­all range

LN Open

Below Val­ue — Out­side Range

Large to Huge Imbalance

Prev. Day Exceed­ed ADR — Yes

Asia trad­ed — lower

IBR — Tight

Addi­tion­al Notes

Labor Day

Thurs­day, May 02, 02:00, USD Fed Inter­est Rate Decision

Fri­day, May 03, 20:30, USD Non Farm Pay­rolls (Apr)

Hypo 1

Long

Late-Sus­tained Auc­tion preferred

Hypo 2

Short

Rever­sal — Pos­si­ble Failed Auction

Hypo 3

Short

Late-Sus­tained Auction

Hypo 4

Short

Auc­tion Fade

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

2

Mind­ful Trad­ing (1–5 Bad to Good)

2

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

Lex­i­con

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