Premarket Prep Gold XAUUSD 06252020 NY - Bear Market Trader
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Premarket Prep Gold XAUUSD 06252020 NY

Premarket Prep Gold XAUUSD 06252020 NY

This is my pre­mar­ket prep for today’s Euro­pean ses­sion for Gold XAUUSD. 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.

Non-con­jec­ture obser­va­tions of the market

  • D1 inside bar above UKC look­ing weak
  • New­ly formed H4 sup­ply H4-C‑S 1773.780 NEW with inside bar and con­se­quent push back down to VWAP
  • Price set­tled above VWAP for the moment hav­ing cre­at­ed new demand H4-C‑D 1763.743 NEW then fol­lowed by a H4 Bear Engulf H4-C‑S 1761.023 BEAR
  • Mar­ket Profile
    • Price cur­rent­ly below but fair­ly close to value

Com­pared against Week­ly Trad­ing Plan

  • Price still trad­ing with­in Week­ly supply

Sen­ti­ment — Slight­ly Bearish

ZOIs for Pos­si­ble Shorts

  • H4-C‑S 1761.023 BEAR
  • H4-C‑S 1773.780
  • W1-C‑S 1752.719

ZOIs for Pos­si­ble Long

  • H4-C‑D 1763.743 NEW
  • H4-C‑D 1751.575 

Focus Points for trad­ing development

  • Risk Man­age­ment
    • Only take 2 trades a day but only have 1 active trade on between the assets
    • Trad­ing Priority
      • FX pair out­side value
      • FX pair inside > Gold
      • 2+R prof­it dur­ing LN con­sid­er trad­ing PNYC
    • After 4 los­ing trades reduce TP to 1.5R but after 1R can con­sid­er tak­ing profits

Day trader. Tech geek. Sim Racing Enthusiast.

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