Premarket Prep Gold 01182021 - Bear Market Trader
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Premarket Prep Gold 01182021

Premarket Prep Gold 01182021

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

This is my pre­mar­ket prep for today’s Euro­pean 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

Week­ly Focus Points

  • Only take trades accord­ing to a hypo

Com­pared against Week­ly Trad­ing Plan

  • Price trad­ing with­in W1 demand

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • Gap down to D1 QLo (after clos­ing down from con­sol­i­da­tion) at Asia open with con­se­quent gap fill and con­tin­u­a­tion push­ing higher
  • Mar­ket Profile
    • Price trad­ing below over­all brack­et­ing range
    • ADR: 32169
    • ASR: 20561
      • 515
    • Day
      • Yes­ter­day’s High 1856.740
      • Yes­ter­day’s Low 1823.360


  • Loca­tions
    • H4-C‑S 1844.705 near VAL and M30 QHi above ADR exhaustion
  • Sen­ti­ment
    • LN open
      • Below Val­ue, Out­side Range
    • Open dis­tance to value
      • 0.8xASR
    • Sen­ti­ment
      • Large Imbal­ance
  • Clar­i­ty (1–5, 5 being best)
    • 2
  • Hypo 1 —  Mean Reversion
    • If we can drop slight­ly low­er (fol­low­ing through on H1 Evening star) before reversing
    • Pre­ferred: Bull­ish price action con­firm­ing push high­er, failed auc­tion with quick follow-through
    • Mon­i­tor for even­tu­al val­ue accep­tance as well
  • Hypo 2 — Return to Value
    • H4 C‑sup near VAL
    • Pre­ferred: price action rever­sal with either TPO struc­ture build up or failed auc­tion and quick fol­low-through down.

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • W1-C‑S 1889.402
  • H4-C‑S 1859.349
  • H4-C‑S 1844.705

ZOIs for Pos­si­ble Long

  • MN-C‑D 1877.953 coin­cid­ing with D1 demand
  • D1-C‑D 1847.306
  • H4-C‑D 1844.527 & W1-C‑D 1839.109

Mind­ful Trading

  • Feel­ing okay

Focus Points for trad­ing development

  • Month­ly Goals
    • Con­tin­ue track­ing my DRC track­ing sheet
    • Focus on my own progress and less on others
    • Feel­ing okay with NOT trading
    • Have ‘qui­eter’ weekends
  • Week­ly Goal
    • Min. 3 times hit­ting the gym
  • Trad­ing Rules
    • Trade from D and upwards unless a pos­si­ble momen­tum trade, val­ue accep­tance or otherwise. 
  • Risk Man­age­ment
    • 3 trades 1% risk, 3rd trade only if first 2 worked out
    • 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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