Premarket Prep Gold 01272021 - Bear Market Trader
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Premarket Prep Gold 01272021

Premarket Prep Gold 01272021

GBPNZD in a too tight range thus focus­ing on Gold today. 

#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 unless there are mul­ti­ple con­di­tions met

Com­pared against Week­ly Trad­ing Plan

  • Price trad­ing slight­ly with­in pre­vi­ous week’s candle

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 DBD but clos­ing above D1 200MA
    • H4 Evening Star DBD clos­ing below H4 50MA in R still trad­ing with­in H4 demand
    • Pre­mar­ket: Closed retrac­ing almost all of pre­vi­ous bar (back to the base lev­el) as a bull­ish Inside Bar after react­ing off W1-C‑D 1839.109
  • Mar­ket Profile
    • 3‑day brack­et­ing range
    • ADR: 26173
    • ASR: 16675
      • 420
    • Day
      • Yes­ter­day’s High 1861.630
      • Yes­ter­day’s Low 1848.150


  • Loca­tions
    • H4 LKC in R at W1-C‑D 1839.109
    • H4-C‑S 1851.201 BASE at H4 50MA in R near VAL
  • Sen­ti­ment
    • LN open
      • Below Val­ue, With­in Range
    • Open dis­tance to value
      • With­in 0.1xASR
    • Sen­ti­ment
      • Mod­er­ate Imbal­ance. Due to a retrace­ment back to the base lev­el we could see a con­tin­u­a­tion high­er although H4 VWAP in R is in the way. Long or short are both tricky as price is trad­ing with­in or direct­ly into sup­ply or demand. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1 — Val­ue Acceptance
    • Pre­ferred: Ear­ly accep­tance and quick follow-through
  • Hypo 2 — Return to Value
    • Pre­ferred: Fail­ure to accept val­ue, price action con­firm­ing rever­sal, IB exten­sion down with sus­tained auction. 

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • W1-C‑S 1889.402
  • H4-C‑S 1869.965
  • H4-C‑S 1851.201 BASE

ZOIs for Pos­si­ble Long

  • MN-C‑D 1877.953 coin­cid­ing with D1 demand
  • H4-C‑D 1855.975
  • D1-C‑D 1847.306

Mind­ful Trading

  • Feel­ing okay although a lit­tle uneasy due to exter­nal fac­tors. I will be extra cau­tious today.

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


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