GBPNZD Week 23 Trading Plan

05 Jun GBPNZD Week 23 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

• Price test­ed MN-C‑S 1.97512 5 times and is cur­rent­ly trad­ing with­in con­sol­i­dat­ing range
• Last month closed as a Bull­ish Inside Bar but with a sell­ing wick
• Price is cur­rent­ly trad­ing above last month’s body but with­in range although made a slight HH
• Price is trad­ing mid MN swing

Week­ly — Neutral

• Last week closed quite neu­tral after mak­ing a HH, and test­ing W1-C‑S 1.96876 (been test­ed mul­ti­ple times) as a pos­si­ble Base (although to con­firm price would need anoth­er week)
• Price trad­ing mid swing

Dai­ly —  Slight­ly Bearish

• Last Fri­day closed as a Bear­ish Inside Bar at W1/MN Sup­ply although still with­in D1 QHi after tak­ing out pre­vi­ous D1 Sup­ply and mak­ing a HH. 

Sen­ti­ment sum­ma­ry — Slight­ly Bullish

• Price made a new high above last month’s range and is cur­rent­ly trad­ing above last month’s body
• Even though W1 closed Neu­tral price has test­ed W1 Sup­ply mul­ti­ple times (and closed trad­ing high­er) com­ing from a W1 QLo rejec­tion indi­cates buy­ing pres­sure still present.
• Even though D1 closed as a Bear­ish Inside Bar, it did so after tak­ing out D1 Sup­ply and has not (yet) reject­ed D1 QHi. Which com­ing from a W1 QLo rejec­tion could get tak­en out. 

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• D1-C‑S 1.98119
• MN-C‑S 1.97512
• W1-C‑S 1.96876

ZOIs for Pos­si­ble Long

• D1-C‑D 1.95239
• W1-C‑D 1.92838

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
  • Min. 3 times work­ing out at home + manda­to­ry cardio
• 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

• Twit­ter
• Insta­gram