Latest Posts
Bear Market Trader | Premarket Prep Gold XAUUSD - London session
day trade, day trading, forex, FX, trade plan, trading plan, XAU USD, XAUUSD, Gold, premarket prep, pre-market prep, commodities, commodities trader,
2597
post-template-default,single,single-post,postid-2597,single-format-standard,locale-en-us,ajax_fade,page_not_loaded,,side_area_uncovered_from_content,qode-theme-ver-9.5,hide_inital_sticky,wpb-js-composer js-comp-ver-4.11.2.1,vc_responsive
 

Premarket Prep Gold XAUUSD 06262020

Premarket Prep Gold XAUUSD 06262020

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

  • Yes­ter­day closed as doji but still with­in con­sol­i­da­tion range
  • H4 Bear Engulf at D1-C‑S 1763.743 but no break away, instead price trad­ing with­in bear engulf range at VWAP above UKC
    • 2nd bear engulf at same lev­el with c‑line H4-C‑S 1762.983 NEW
  • H4 Bear Engulf c‑line H4-C‑S 1761.023 is also H4 demand H4-C-S‑D 1761.023
  • Both sup­ply and demand have been test­ed over and over
  • Mar­ket Profile
    • Cur­rent­ly price trad­ing with­in value

Com­pared against Week­ly Trad­ing Plan

  • Price still trad­ing with­in Week­ly supply

Sen­ti­ment — Neutral

ZOIs for Pos­si­ble Shorts

  • H4-C‑S 1773.780
  • W1-C‑S 1752.719
  • H4-C-S‑D 1761.023 BEAR and Demand

ZOIs for Pos­si­ble Long

  • H4-C-S‑D 1761.023 BEAR and Demand
  • 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
T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

No Comments

Post A Comment