16 May 20230516 Premarket Prep GBPNZD

#Fin­twit #GBPNZD #Forex #Mar­ket­Pro­file #Order­flow

This is my pre­mar­ket prep for today’s Euro­pean ses­sion for GBPNZD. This prep builds off of my week­ly trade plan I made here:

GBPNZD 2023 Week 20 Trad­ing Plan

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Larg­er Timeframe

MN price trading:

With­in Body — With­in Sup­ply — Mid Swing — Wide Q 

W1 price trading:

Below Body — With­in Range — With­in QHi — Wide Q — W1 Bear Engulf to W1 Hammer

Nar­ra­tive

• D1
  • Pos­si­ble D1 VWAP in UT BD to CAR
  • D1 QHi reject­ed, price trad­ing mid swing
• H4
  • 2 rejec­tions of H4 QHi
  • Price closed low­er through H4 Bear Engulf giv­ing H4-C‑S 2.01137 tak­ing out H4 Demand HiDC through Bull Engulf and clos­ing below
• Trend
  • Trend is DOWN 2/3
• Mar­ket Profile 
  • 2 over­lap­ping val­ues both wider than usual
• LN Open
• 0.44 x ASR- Below Val­ue — Out­side Range

• Mod­er­ate to Large Imbalance
• Asia trad­ed lower
• Frank­furt trad­ed lower
• 0.29xASR Tight IBR

Addi­tion­al Notes

• N.A. 

Hypos

• Hypo 1
  • Short
  • Rever­sal — Pos­si­ble Failed Auc­tion — pos­si­ble continuation
• Hypo 2
  • Long
  • Late-Sus­tained Auc­tion — pos­si­ble VAA — Very risky with sup­plies at VAL and with­in. No clear target.

Clar­i­ty / Con­fi­dence (1 — 5, low to high)

• 1

Mind­ful Trad­ing (1–5 Bad to Good)

• 3

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram