GBPNZD Week 30 Trading Plan - Bear Market Trader
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GBPNZD Week 30 Trading Plan

GBPNZD Week 30 Trading Plan

#day­trade #day­trad­ing #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #GBPNZD 

This is my week­ly out­look on the Forex pair GBPNZD. Basi­cal­ly the lev­els that I will be look­ing at where it has 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 mar­ket pro­file. 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 Bearish

  • Month­ly clean arrival at MN-C‑D 1.89696 (with under­ly­ing Q1 QLo) and saw some ini­tial reaction
  • Mid swing MN1 Q
  • Trad­ing below pre­ced­ing month
  • Still 2 weeks left in the bar

Week­ly — Neutral

  • No swing high made after a move down from W1 QHi to QLo
  • One week closed below W1 QLo the next above but not engulf­ing cre­at­ing sup­ply with W1-C‑S 1.90768 turn­ing into a con­sol­i­da­tion with last week clos­ing above QLo

Dai­ly — Neutral

  • Pos­si­ble Phase 1
  • Bull Engulf at W1-C‑S 1.90768 cre­at­ing D1-C‑D 1.90736
  • Con­sol­i­da­tion at VWAP cre­at­ing Bear Engulf D1-C‑S 1.91972 to W1 QLo but no fol­low-through. Instead con­sol­i­da­tion continues
  • Price below LKC

H4 — Slight­ly Bearish

  • After a steady climb to H4-C‑S 1.2483 sup­ply a big drop test­ing this sup­ply 2 times (on the sec­ond cre­at­ing new sup­ply H4-C‑S 1.92093.
  • Price rang­ing with new sup­plies being made and demand tak­en out
  • Unclean arrival at H4-C‑D B.E. 1.91434 (pre­vi­ous swing low rejec­tion of demand at H4 QLo) at D1/W1 QLo 
  • End­ing the week with a H4 Bull Engulf cre­at­ing new demand with H4-C‑D B.E. 1.91535 into the pre­vi­ous sup­ply DBD H4-C‑S DBD 1.91649

Mar­ket Pro­file — Neutral

  • Mul­ti-day bracketing

Sen­ti­ment sum­ma­ry — Neutral

  • Due to con­sol­i­da­tions on dif­fer­ent time frame there is no stronger bias in sen­ti­ment and would need a break from this range we are in now. Still lots of oppor­tu­ni­ties intra­day though due to new medi­um term SD ZOIs.

ZOIs for Pos­si­ble Shorts

  • W1-C‑S 1.90768
  • H4-C‑S 1.92093
  • H4-C‑S 1.2483
  • H4-C‑S DBD 1.91649

ZOIs for Pos­si­ble Long

  • MN-C‑D 1.89696
  • D1-C‑D 1.90736
  • H4-C‑D B.E. 1.91535

Focus Points for trad­ing development

  • Week­ly Goal
    • Cor­rect posi­tion sizing
    • Have cor­rect SL placement
    • Due to sum­mer time I will focus on trad­ing off new­ly formed SD ZOIs for intra­day plays. Keep­ing in mind that due to lack of liq­uid­i­ty 2nd chance entries can give bet­ter R/R using the M30/M15 rule.
  • Risk Man­age­ment
    • Only take 2 trades a day but only have 1 active trade on between the assets
    • Only trade off M30 candles
    • Trad­ing Priority
      • FX pair out­side value
      • FX pair inside > Gold
      • 2+R prof­it dur­ing LN con­sid­er trad­ing PNYC
    • After 4 los­ing trades reduce TP to 1.5R but after 1R can con­sid­er tak­ing profits
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING

Day trader. Tech geek. Sim Racing Enthusiast.

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