Bear Market Trader | Weekly trading Plan GBPNZD
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GBPNZD Week 21 Trading Plan

GBPNZD Week 21 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 — Bearish

  • April closed as a Strong Bear­ish Inside Bar after react­ing off MN-C‑S 1.97330
  • Price is cur­rent­ly trad­ing with­in last month’s body at the high of last month’s bar

Week­ly — Slight­ly Bullish

  • Con­tin­u­a­tion to the W1 Bull Engulf clos­ing with­in W1-C‑S 1.96850 react­ing slight­ly off MN-C‑S 1.97330
  • Mid W1 Swing com­ing from QLo

Dai­ly —  Neutral

  • D1 RBR fol­lowed by a Doji clos­ing high­er above D1 UKC in R
  • Trad­ing with­in D1 QHi

Sen­ti­ment sum­ma­ry — Slight­ly Bearish

  • Price is con­sol­i­dat­ing on the Month­ly and is cur­rent­ly trad­ing at its high. Although com­ing from MN demand this could be Phase 1 indi­cat­ing more upside. W1 closed high­er and with­in W1 Sup­ply although below the Month­ly sup­ply. D1 is strug­gling to climb high­er after tak­ing out D1 Sup­ply although it has still closed slight­ly high­er as a Doji. Unless price can take out W1 Sup­ply End 1.98244 price could be revers­ing here. If price revers­es to D1-C‑D 1.96000 BASE lev­el there could be a con­tin­u­a­tion down to D1-C‑D 1.94900.

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • MN-C‑S 1.97330
  • W1-C‑S 1.96850

ZOIs for Pos­si­ble Long

  • D1-C‑D 1.96000 BASE
  • D1-C‑D 1.94900

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
    • Aim to have a min­i­mum of ONE TRADE per trad­ing day
  • Trad­ing Rules
    • Be mind­ful of DTTZs
    • Only price-action based exit rules (or hit time stop)
      • IF NOT… I will do a Bart Simp­sons exer­cise of 7 days, 50 sen­tences of: “I will trust my trad­ing skills and take my exits accordingly”.
    • M15/M30 com­bi­na­tion at 1st DTTZ, M5 entries and exits at 2nd DTTZ
    • Trade from D and upwards unless a pos­si­ble momen­tum trade, val­ue accep­tance or otherwise. 
  • Risk Man­age­ment
    • At least 1 trade with 1% risk, 2nd trade only if first one 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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