20230526 Premarket Prep GBPNZD - Bear Market Trader
This is my premarket prep for the London session.
day trade, day trading, forex, FX, trade plan, trading plan, XAU USD, XAUUSD, GOLD, premarket prep, pre-market prep, tradingforex, traderlifestyle, daytraderlife,
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20230526 Premarket Prep GBPNZD

#Fin­twit #GBPNZD #Forex #Mar­ket­Pro­file #Order­flow

Larg­er Timeframe

MN price trading:

With­in Body — With­in Sup­ply — Mid Swing — Price test­ed sup­ply but duck­ing slight­ly below but is now trad­ing back near its high again. 

W1 price trading:

Above Body — Above Range — With­in QHi — Wide Q — Price not only retraced to orig­i­nat­ing lev­el it also took out W1 supply

Nar­ra­tive

  • D1
    • Price took out D1 sup­ply but failed to close above pre­vi­ous struc­ture high
    • Price trad­ing with­in Wide D1 QHi
  • H4
    • H4 Three Out­side Down giv­ing H4-C‑S 2.03483 with­in value
  • Trend
    • Trend is UP 2/3
  • Mar­ket Profile 
    • Wide Val­ue cre­at­ed above the previous
  • LN Open
    • 0.00 x ASR- With­in Value
    • Prev. Day Exceed­ed ADR by 1.04
    • Asia trad­ed lower
    • 0.57xASR IBR

Addi­tion­al Notes

  • Pos­si­ble Fri­day profit-taking

Hypos

  • Hypo 1
    • Short
    • Failed Auc­tion — Pos­si­ble 3‑I Day
  • Hypo 2
    • Long
    • Late-Sus­tained Auction
  • Hypo 3
    • 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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