20230519 Premarket Prep GBPNZD - Bear Market Trader
This is my premarket prep for the London session.
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20230519 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:

Price was trad­ing with­in MN sup­ply but ducked slight­ly below

Price trad­ing mid swing — Wide Q

W1 price trading:

Below Body — With­in Range — Price ducked below W1 QHi — Pos­si­bly devel­op­ing a W1 DBD

Nar­ra­tive

  • D1
    • Price trad­ing with­in D1 demand, near­ing D1 QLo (coin­cid­ing with D1 LKC in UT)
  • H4
    • H4 Three Out­side Down giv­ing H4-C‑S 1.99543 Momentum
    • Price closed with­in H4 QLo
  • Trend
    • Trend is DOWN 2/3
  • Mar­ket Profile 
    • 2 over­lap­ping values
  • LN Open
    • 0.81 x ASR- Below Val­ue — Out­side Range
    • Mod­er­ate to Large Imbalance
    • Asia formed a Neu­tral Day but most­ly trad­ed lower
    • Prev. Day trad­ed 0.94xASR, pos­si­ble momentum
    • Pos­si­ble Fri­day Profit-Taking
    • 0.55xASR

Addi­tion­al Notes

  • N.A.

Hypos

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

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

  • 2

Mind­ful Trad­ing (1–5 Bad to Good)

  • 2

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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