Categories
20210722 Premarket Prep GBPNZD - Bear Market Trader
day trade, day trading, forex, FX, trade plan, trading plan, GBP NZD, GBPNZD, premarket prep, pre-market prep, tradingforex, traderlifestyle, daytraderlife,
7115
post-template-default,single,single-post,postid-7115,single-format-standard,vcwb,bridge,ajax_fade,page_not_loaded,,side_area_uncovered_from_content,qode-theme-ver-9.5,hide_inital_sticky,wpb-js-composer js-comp-ver-4.12,vc_responsive
 

20210722 Premarket Prep GBPNZD

20210722 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 trad­ing with­in last month’s body with a reac­tion off new­ly formed MN-C‑D 1.95263
  • Price trad­ing with­in last week’s body trad­ing above W1 demand at W1 VWAP in UT
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • Weak D1 Three Out­side Down formed at W1 demand react­ing off D1 QHi clos­ing above said demand
    • H4 trad­ed high­er react­ing off H4/W1 demand
  • Trend: H4 Down, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 2/3
  • Mar­ket Profile
    • After the 5‑day brack­et­ing range a val­ue was cre­at­ed below it but still with­in over­all range
  • Dai­ly Range
    • ADR: 1155
    • ASR: 976
      • 25
    • Day
      • Yes­ter­day’s High 1.97257
      • Yes­ter­day’s Low 1.96295

Sen­ti­ment

  • LN open
    • Above Val­ue, Out­side Range
  • Open dis­tance to value
    • 0.35xASR
  • Nar­ra­tive
    • Mod­er­ate to Large Imbal­ance. Open just above yesterday’s range. H4 closed trad­ing high­er, reject­ing H4 QLo although still below D1 QHi. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Return to Val­ue, VAH Rever­sal, pos­si­ble probe through val­ue through Failed Auc­tion long oth­er­wise a sus­tained auction.
  • Hypo 2
    • Failed Auc­tion Short, near­by W1 supply
  • Hypo 3
    • Val­ue Acceptance
  • Hypo 4
    • Mean Rever­sion, Auc­tion Fade Short, vari­a­tion to Hypo 1

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
  • H4-C‑D 1.96518

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

No Comments

Post A Comment