GBPNZD 2021 Week 24 Trading Plan

12 Jun GBPNZD 2021 Week 24 Trading Plan

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #GBPNZD 

This is my week­ly out­look on GBPNZD. The lev­els that I will be look­ing at with a high­er prob­a­bilis­tic chance the mar­ket will start react­ing. Dur­ing the ses­sion I then wait for the mar­ket to hit those lev­els and either con­firm or reject my bias through price action con­fir­ma­tion and order flow. I hope that makes sense. If not, please get in touch with me. I love to talk to peo­ple that are on the same path as me. So don’t be shy and reach out. 

Month­ly — Slight­ly Bullish

• Price test­ed MN-C‑S 1.97293 5 times but has not tak­en it out
• Last month closed as a Bull­ish Inside Bar but with a sell­ing wick
• Price is cur­rent­ly trad­ing above last month’s body and above range and made a slight HH
• Price is trad­ing mid MN swing

Week­ly — Slight­ly Bullish

• Price took out W1 Sup­ply and made a HH clos­ing as a W1 Three Inside Up (near its high) giv­ing W1-C‑D 1.96250
• Price trad­ing mid W1 swing (com­ing from a W1 QLo rejection)

Dai­ly — Slight­ly Bullish 

• D1 Bull Engulf formed at W1 C‑dem and con­tin­u­a­tion high­er (after test­ing new­ly formed 2 / 3 times) tak­ing out D1 Supply
• Price arrived at D1 QHi and D1-C‑S 1.98124 OLD (has been test­ed mul­ti­ple times)

Sen­ti­ment sum­ma­ry — Slight Bull­ish

• Price trad­ed above last month range mak­ing a slight HH trad­ing deep­er into MN supply
• W1 closed bull­ish tak­ing out W1 sup­ply and has 220 pips to go to W1-C‑S 2.00116
• D1 trad­ed high­er tak­ing out D1 Sup­ply and is cur­rent­ly test­ing D1-C‑S 1.98124 that has been test­ed mul­ti­ple times and is thus weaker. 
• Com­ing from a W1 QLo rejec­tion there could be a push through D1 QHi

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• W1-C‑S 2.00116
• MN-C‑S 1.97293
• D1-C‑S 1.98124

ZOIs for Pos­si­ble Long

• W1-C‑D 1.96250

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 13 trades by the end of the month
• Week­ly Goal
  • Min. 3 times work­ing out at home + manda­to­ry cardio
• Risk Man­age­ment
  • With­out forc­ing a trade: aim to take 1 trade a day, if pos­si­ble 2. 
  • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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