05 Jun GBPNZD 2023 Week 23 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 above previous structure high within Wide MN QHi as a Hammer and closed within MN-C‑S 2.05880
- Conjecture: a Hammer indicates a possible continuation. Which would be in line with trading into a Wide QHi. However, price is also trading at MN UKC in R coinciding with the MN QHi and could see sellers come in. Potentially further higher up at MN-CS 2.09023.
Weekly — Bullish
- Price closed as an Inverted Hammer above previous structure high, within Wide W1 QHi
- Conjecture: Inverted hammer indicates a possible continuation however price could see sellers come in around these levels
Daily — Bearish
- D1 Evening Star with some continuation
- Price trading within Wide D1/W1 QHi
- Conjecture: Price has seen some reversing at D1 Supply, within larger timeframe supply. D1 Evening Star is a momentum move so in absence of that price could push higher.
Sentiment summary — Bullish
Focus Points for trading development
- Monthly Goals
- Use SL scaling