20230608 Premarket Prep GBPNZD - Bear Market Trader
This is my premarket prep for the London session.
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20230608 Premarket Prep GBPNZD

#Fin­twit #GBPNZD #Forex #Mar­ket­Pro­file #Order­flow

⇧ Hypos and more info with­in link above ⇧

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 QHi — Wide Q — Price made a HH and then trad­ed lower

W1 price trading:

Above Body — With­in Range — With­in QHi — Wide Q 

Nar­ra­tive

  • D1
    • D1 Bull Engulf giv­ing D1-C‑D 2.04773 HiDC with­in val­ue near PPOC
    • Price trad­ing with­in Wide D1/W1 QHi
  • H4
    • H4 Bear Engulf at MN-C‑S 2.05880 coin­cid­ing with H4 UKC in UT
  • Trend
    • Trend is UP 2/3
  • Mar­ket Profile 
    • Wide val­ue cre­at­ed above the previous
  • LN Open
    • 0.83 x ASR- Above Val­ue — Out­side Range
    • Mod­er­ate to Large Imbalance
    • Prev. Day Exceed­ed ADR by 1.45
    • Asia trad­ed lower
    • 0.89xASR Wide IBR

Addi­tion­al Notes

  • N.A. 

Hypos

  • Hypo 1
    • Long
    • Rever­sal — Pos­si­ble Failed Auction
  • Hypo 2
    • Short
    • Weak­ness From With­in IBR
  • Hypo 3
    • Short
    • Failed Auc­tion
  • Hypo 4
    • Long
    • Strength From With­in IBR

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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