20230518 Premarket Prep GBPNZD - Bear Market Trader
This is my premarket prep for the London session.
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17695
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20230518 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:

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 — Price ducked below Wide W1 QHi (no close yet), pos­si­bly devel­op­ing a W1 DBD

Nar­ra­tive

  • D1
    • Price trad­ed low­er from D1-C‑S 2.00771 clos­ing as anoth­er D1 Hammer
    • D1 QHi reject­ed, price trad­ing mid swing
  • H4
    • H4 QHi reject­ed, price trad­ing mid swing
    • Pos­si­ble H4 Phase 1 / 3 above H4 QLo with H4 Bear Engulf giv­ing H4-C‑S 1.99583
  • Trend
    • Trend is DOWN 2/3
  • Mar­ket Profile 
    • Val­ue cre­at­ed below the previous
  • LN Open
    • 0.00 x ASR- With­in Value
    • Prev. Day Exceed­ed ADR by 1.12
    • Asia trad­ed lower
    • Frank­furt formed a Bear Engulf
    • 0.45xASR IBR closed below VAL

Addi­tion­al Notes

  • N.A. 

Hypos

  • Hypo 1
    • Short
    • Failed Auc­tion — pos­si­ble 3‑I day
  • Hypo 2
    • Long
    • Late-Sus­tained Auction
  • Hypo 3
    • Short
    • Auc­tion Fade

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

  • 2

Mind­ful Trad­ing (1–5 Bad to Good)

  • 3

Focus Points for trad­ing development

  • Month­ly Goals 
    • Use SL scaling

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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