GBPNZD 2021 Week 31 Trading Plan - Bear Market Trader
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GBPNZD 2021 Week 31 Trading Plan

GBPNZD 2021 Week 31 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. 

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Month­ly — Bullish

  • MN Three Inside Up with retest of new­ly formed C‑dem and clos­ing high­er after hav­ing made a HH clos­ing with­in MN supply
  • Trad­ing mid swing after a MN QLo and Q1 QLo rejection

Week­ly — Bullish

  • W1 Three Inside Up at W1 demand (coin­cid­ing with W1 VWAP in UT) with slight reac­tion off W1-C‑S 2.0000 (round number)
  • Trad­ing mid swing after W1 QLo rejection

Dai­ly — Bearish

  • Mul­ti­ple tests and rejec­tions of D1 QHi with­out fol­low-through in line with larg­er time­frame bull­ish sentiment
  • D1 Bear Engulf at W1-C‑S 2.00000 with no close below D1 QHi and no fol­low-through. Instead a pos­si­ble base. 

Sen­ti­ment sum­ma­ry — Bullish

  • MN broke high­er break­ing high of Sep­tem­ber 2020 although sup­ply of August 2020 not tak­en out (yet). Price test­ed this sup­ply mul­ti­ple times with­out much effort to move away from it so expectan­cy is for the sup­ply to get tak­en out. 
  • W1 closed above the pre­vi­ous Phase 1 / 3 for­ma­tion putting more bias towards a pos­si­ble phase 1
  • D1 formed a Bear Engulf but as this is at a W1 sup­ply and round num­ber some sell off should be expect­ed. The week will show if there is a con­tin­u­a­tion to the move or not. 

Addi­tion­al notes

  • Aug 05, 19:00, GBP, BoE Inter­est Rate Decision
  • Aug 06, 20:30, USD, Non­farm Payrolls

ZOIs for Pos­si­ble Shorts

  • MN-C‑S 2.05903
  • W1-C‑S 2.00000

ZOIs for Pos­si­ble Long

  • W1-C‑D 1.96800
  • MN-C‑D 1.95263
  • MN-C‑D 1.89782

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
    • Week­ly Focus Points
      • Min. 3 times work­ing out at home + manda­to­ry cardio
    • Trad­ing rules
      • Focus on tak­ing ONE trade a day. If I missed the first DTTZ then a trade needs to be tak­en on the 2nd DTTZ unless there is a high/medium ini­tia­tive activ­i­ty day.
      • Only price-action based exit rules (or if hit time stop comes earlier)
      • M15/M30 entries and exits at 1st DTTZ, M5 entries and exits at 2nd DTTZ
      • Buffer trades (prof­it tar­get >1R) are allowed and encouraged
      • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
      • No social media / mes­sen­ger apps / phone calls allowed dur­ing the trad­ing window
  • 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


Day trader. Tech geek. Sim Racing Enthusiast.

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