GBPNZD Week 48 Trading Plan - Bear Market Trader
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GBPNZD Week 48 Trading Plan

GBPNZD Week 48 Trading Plan

#day­trade #day­trad­ing #forex #FX #Forex­trad­er #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

  • Cur­rent­ly trad­ing as a devel­op­ing DBD but there is still a week left

Week­ly — Slight­ly Bearish

  • Fol­low-through on W1 Bear Engulf W1-C‑S 1.95342 closed with­in W1-C‑D 1.92065

Dai­ly — Neutral

  • Long buy­ing wick on Fri­day, fail­ing to make a LL, and clos­ing with­in range again
  • Pos­si­ble D1 Phase 1

H4 — Neutral

  • Some con­sol­i­da­tion at D1-C‑D 1.91298 with a move high­er stay­ing with­in over­all range
  • Pos­si­ble Phase 1 / 3 although 50MA as well as VWAP in DT

Mar­ket Pro­file — Balancing

  • Mul­ti-day brack­et­ing with Fri­day hav­ing cre­at­ed VA below the range but still with­in over­all range

Sen­ti­ment sum­ma­ry — Neutral

  • D1 and H4 show signs of a tri­an­gle where Fri­day tried to Break down from the pat­tern but failed (if you are a more tra­di­tion­al chartist). Since the Over­all Range hasn’t been bro­ken to either side (plus D1/H4 phase 1 / 3) we can assume the mar­ket is still bal­anc­ing even though W1 shows a slight nudge to the downside. 

Addi­tion­al notes

  • Mon­day
    • GBP — Flash Man­u­fac­tur­ing PMI, Mon­e­tary Pol­i­cy Report Hearings

ZOIs for Pos­si­ble Shorts

  • W1-C‑S 1.95342
  • D1-C‑S 1.92947
  • H4-C‑S 1.92348

ZOIs for Pos­si­ble Long

  • W1-C‑D 1.92065

Focus Points for trad­ing development

  • Month­ly Goals
    • Con­tin­ue track­ing my DRC track­ing sheet
    • Focus on my own progress and less on others
    • Feel­ing okay with NOT trading
    • Have ‘qui­eter’ weekends
  • Week­ly Goal
    • Min. 3 times hit­ting the gym + manda­to­ry cardio
  • 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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