GBPNZD Week 15 Trading Plan - Bear Market Trader
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GBPNZD Week 15 Trading Plan

GBPNZD Week 15 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

  • MN-C‑S 1.97316 reac­tive with a near 50% retrace­ment of last month’s candle
  • Mid MN swing

Week­ly — Bearish

  • W1 Three Out­side Down with lit­tle buy­ing wick cre­at­ed react­ing off MN-C‑S 1.97316 giv­ing W1-D1-C‑S 1.96852
  • No arrival at W1-C‑D 1.93978
  • Mid W1 swing

Dai­ly — Bearish

  • D1 Phase 3 tran­si­tion to 4 through D1 DBD with Fri­day clos­ing as an Inside Bar with longer sell­ing wick
  • Price broke below VWAP in UT 

Sen­ti­ment sum­ma­ry — Slight­ly Bearish

  • After reach­ing a Month­ly sup­ply price start­ed react­ing and print­ed a W1 Three Out­side Down. The Month is not yet over and price is near­ing a W1 demand lev­el which could be in line with the still some­what bull­ish sen­ti­ment on the Month­ly as last month did close near its high.  Bear­ish short term unless price can cre­ate a good demand and rever­sal pat­tern on medi­um to high­er timeframe. 

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • W1-C‑S 2.00110
  • MN-C‑S 1.97316
  • W1-D1-C‑S 1.96852
  • D1-C‑S 1.95933 BASE

ZOIs for Pos­si­ble Long

  • D1-C‑D 1.96720
  • W1-C‑D 1.93978
  • D1-C‑D 1.93581

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Feel­ing okay with NOT trading
    • Have ‘qui­eter’ weekends
  • Week­ly Goal
    • Min. 3 times hit­ting the gym + manda­to­ry cardio
    • Only trade the main account
    • Be mind­ful of DTTZs
    • Only price-action based exit rules (or hit time stop)
    • M15/M30 com­bi­na­tion at 1st DTTZ, M5 entries and exits at 2nd DTTZ
  • Trad­ing Rules
    • Trade from D and upwards unless a pos­si­ble momen­tum trade, val­ue accep­tance or otherwise. 
  • Risk Man­age­ment
    • 3 trades 1% risk, 3rd trade only if first 2 worked out
    • 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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