17 May 20230517 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 Ham­mer, pos­si­ble Base

Nar­ra­tive

• D1
  • Pos­si­ble D1 VWAP in UT BD to CAR
  • D1 QHi reject­ed, price trad­ing mid swing
  • Price trad­ed low­er from D1 Sup­ply Base
• H4
  • H4 QHi reject­ed, price trad­ing mid swing
  • H4 VWAP in UT BD
• Trend
  • Trend is DOWN 2/3
• Mar­ket Profile 
  • 3 over­lap­ping values
• LN Open
• 0.66 x ASR- Below Val­ue — Out­side Range

• Mod­er­ate to Large Imbalance
• Asia trad­ed lower
• Frank­furt trad­ed lower
• ADR exhaus­tion right below IB, pos­si­ble uni­di­rec­tion­al day
• 0.72xASR IBR, pos­si­ble momentum

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Failed Auc­tion
• Hypo 2
  • Short
  • Late-Sus­tained Auction
• Hypo 3
  • Short
  • Weak­ness From With­in IBR
• Hypo 4
  • Long
  • Auc­tion Fade

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

• 1

Mind­ful Trad­ing (1–5 Bad to Good)

• 1

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram