GBPNZD 2023 Week 20 Trading Plan

#Fin­twit #XAUUSD #GBPNZD #Mar­ket­Pro­file #Order­flow #Trad­ing­Plan

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, get in touch with me. 

Month­ly — Bullish

• Price closed deep with­in MN sup­ply, (4th up move in a row)
• Still trad­ing with­in range
• Trad­ing below MN QHi
• Con­jec­ture: Price is poten­tial­ly increas­ing in momen­tum and could take out MN Sup­ply and test MN QHi. Price failed to close above body from begin­ning 2022 and could see push­back from sellers.

Week­ly — Bearish

• W1 Bear Engulf below MN QHi giv­ing W1-C‑S 2.02620 fail­ing to close below Wide QHi
• Price trad­ing above W1 UKC in R
• Last week closed as a W1 Hammer
• Con­jec­ture: Price trad­ing at these lev­els are more like­ly to see a push low­er. How­ev­er, since price is still with­in QHi and due to the devel­op­ment of a Bear Engulf there could be a push high­er first. Pos­si­bly even till new­ly devel­oped W1 Sup­ply for a 2nd chance entry. Ham­mer indi­cates a pos­si­ble con­tin­u­a­tion low­er, how­ev­er price is still with­in Wide W1 QHi.

Dai­ly — Bullish

• D1 Three Out­side Up giv­ing D1-C‑D 1.98627 Momen­tum clos­ing with­in D1-C‑S 2.00771 BASE at Round Number.
• D1 QHi reject­ed, price failed to test D1 QLo.
• Con­jec­ture: return to D1 Base lev­el could see a con­tin­u­a­tion to orig­i­nat­ing lev­el at 2.03. D1 Three Out­side Up made a big move and could be exhaust­ed at D1 VWAP in UT (pos­si­ble CAR).

Sen­ti­ment sum­ma­ry — Bullish

Addi­tion­al notes

• N.A.

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram