20210714 Premarket Prep GBPNZD - Bear Market Trader
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20210714 Premarket Prep GBPNZD

20210714 Premarket Prep GBPNZD

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

This is my pre­mar­ket prep for today’s Euro­pean ses­sion for the Forex pair GBPNZD. 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

Com­pared against Week­ly Trad­ing Plan

  • Price made a HH and got close to tak­ing out W1 Sup­ply but reversed and is trad­ing with­in last week’s body below MN/W1 Supply
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 closed as a neu­tral Spin­ning top below D1-C‑S 1.98839
    • H4 con­sol­i­da­tion at D1 sup­ply and break down (from H4 VWAP in UT) exhaust­ing ADR dur­ing Asia to W1 demand and H4 QLo
  • Trend: H4 Up, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 3/3
  • Mar­ket Profile
    • 2‑day over­lap­ping values
  • Dai­ly Range
    • ADR: 1149
    • ASR: 789
      • 20
    • Day
      • Yes­ter­day’s High 1.99560
      • Yes­ter­day’s Low 1.98180


  • LN open
    • Below Val­ue, Out­side Range
  • Open dis­tance to value
    • 1.32xASR
  • Nar­ra­tive
    • Large imbal­ance at the open. Trend is up 3/3. Clean arrival at H4 QLo and W1 demand. 
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1
    • Mean Rever­sion, sus­tained auc­tion up
  • Hypo 2
    • Return to Val­ue, vari­a­tion to Hypo 1, Auc­tion Fade Short
  • Hypo 3 (less likely)
    • Sus­tained Auc­tion Down, if Lon­don fol­lows suit to Asia. Pre­ferred late-sus­tained auc­tion entry. 
  • Hypo 4
    • Auc­tion Fade Long

Addi­tion­al notes

  • Cap­i­tal Preser­va­tion Rule in effect

ZOIs for Pos­si­ble Shorts

  • W1-C‑S 1.97725
  • MN-C‑S 1.97293

ZOIs for Pos­si­ble Long

  • W1-C‑D 1.96800
  • MN-C‑D 1.95263

Mind­ful Trad­ing (lack of sleep?)

  • Not the sharpest. Will most­ly observe unless some­thing jumps out at me. 

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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