01 Jun 20230601 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 23 Trad­ing Plan

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

Larg­er Timeframe

MN price trading:

Above Body — Above Range — With­in QHi — Wide Q 

• Price closed with­in MN-C‑S 2.05880 after tak­ing out MN supply
• Price closed as a Hammer

W1 price trading:

Above Body — Above Range — With­in QHi — Wide Q 

• W1 Bull Engulf clos­ing with­in Wide W1 QHi

Nar­ra­tive

• D1
  • Price trad­ing deep­er with­in Wide D1/W1 QHi
  • Pos­si­ble D1 Phase 2 although now trad­ing at D1-C‑S 2.06909
• H4
  • Pos­si­ble H4 Phase 2
• Trend
  • Trend is UP 3/3
• Mar­ket Profile 
  • Val­ues in UT
• LN Open
  • 1.26 x ASR- Above Val­ue — Out­side Range
  • Large to Huge Imbalance
  • Asia trad­ed higher
  • Prev. Day Exceed­ed ADR by 1.26
  • 0.51xASR IBR

Addi­tion­al Notes

• NFP tomor­row

Hypos

• Hypo 1
  • Short
  • Late-Sus­tained Auction
• Hypo 2
  • Long
  • Auc­tion Fade
• Hypo 3
  • Long
  • Failed Auc­tion
• Hypo 4
  • Long
  • Late­Sus­tained Auction

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

• Twit­ter
• Insta­gram