NY Premarket Prep Gold 20210616 - Bear Market Trader
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NY Premarket Prep Gold 20210616

NY Premarket Prep Gold 20210616

#fin­twit #order­flow #day­trad­ing #pre­mar­ket­prep #XAUUSD #GOLD #Forex­trad­er #forex #FX #Forexlifestyle #day­trade #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life 

This is my pre­mar­ket prep for today’s NY ses­sion for GOLD. This prep builds off of my week­ly trade plan I made here:

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

Click to Enlarge

Com­pared against Week­ly Trad­ing Plan

  • Price trad­ing below W1 Three Out­side Down
  • Price com­ing from W1/D1 QHi Rejec­tion cur­rent­ly trad­ing mid swing

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 closed low­er with­in the pre­ced­ing D1 Hammer’s range with­out mak­ing a LL trad­ing deep­er with­in D1 Demand
    • Pos­si­ble D1 Phase 4
    • H4 broke low­er from sup­ply H4-C‑S 1864.580 arrival at OLD H4 demand and formed a H4 Bear Engulf
  • Trend: H4 Down, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 2/3
  • Mar­ket Profile
    • 2‑day over­lap­ping values
  • Dai­ly Range
    • ADR: 24170
    • ASR: 13222
      • 331
    • Day
      • Yes­ter­day’s High 1869.070
      • Yes­ter­day’s Low 1851.560


  • NY open
    • With­in Value
  • Open dis­tance to value
    • N.A.
  • Nar­ra­tive
    • Bal­anc­ing Mar­ket. H4 con­sol­i­dat­ed and closed as a Bear Engulf above OLD H4 demand. Pos­si­ble D1 Phase 4 and W1 Three Inside Down continuation. 
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1
    • Val­ue Rejec­tion Up Fail­ure, Failed Auc­tion short prob­ing to the upside
  • Hypo 2
    • Val­ue Rejec­tion Down, sus­tained auc­tion, pos­si­ble late-sus­tained auc­tion entry, mon­i­tor for D1 Demand get­ting popped
  • Hypo 3 
    •  Auc­tion Fade, Near D1 Demand End back to IB edge
  • Hypo 4
    • Val­ue Rejec­tion Down Fail­ure, Failed Auc­tion prob­ing to the downside

Addi­tion­al notes

  • Cap­i­tal preser­va­tion rule in effect
  • FOMC lat­er on

ZOIs for Pos­si­ble Shorts

  • W1-C‑S 1888.863
  • H4-C‑S 1864.580

ZOIs for Pos­si­ble Long

  • H4-C‑D 1853.459
  • D1-C‑D 1825.990

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 13 trades by the end of the month
  • Week­ly Goal
    • Min. 3 times work­ing out at home + manda­to­ry cardio
  • Risk Man­age­ment
    • With­out forc­ing a trade: aim to take 1 trade a day, if pos­si­ble 2. 
    • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING


Day trader. Tech geek. Sim Racing Enthusiast.

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