Bear Market Trader | Weekly trading Plan GBPNZD
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GBPNZD Week 49 Trading Plan

GBPNZD Week 49 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 to Neutral

  • MN closed as a DBD after mov­ing away from MN-C‑S 1.97316 form­ing MN-C‑S 1.95032 BASE but failed to close with­in under­ly­ing MN-C‑D 1.89659

Week­ly — Bearish

  • W1 Phase 4 tak­ing out pre­vi­ous W1 demand with 350+ pips to go to the next W1 demand
  • Trad­ing with­in W1 QLo

Dai­ly — Slight­ly Bearish

  • Clean arrival at D1-C‑D 1.89128 with reac­tion test­ing demand a sec­ond time while clos­ing up

H4 — Slight­ly Bearish

  • Pos­si­ble H4 Phase 1 with longer buy­ing wicks but no fol­low-through yet
  • Price still trad­ing below H4 VWAP and cre­at­ed new sup­ply through con­sol­i­da­tion and Bear Engulf at H4-C‑S 1.90363 and H4 VWAP

Mar­ket Pro­file — Imbalance

  • Price trad­ed below pre­vi­ous brack­et­ing range cre­at­ing widen­ing ranges with yes­ter­day (last day of the month) clos­ing just below VAL of Friday

Sen­ti­ment sum­ma­ry — Neutral

  • Due to price hav­ing arrived at a MN demand lev­el we could see some push back. The H4 pos­si­bly for Phase 1 could back that up. Although on short to medi­um term we could see some more down­side due to W1 and D1 demand that got tak­en out and the lack of W1 demand until fur­ther down. The D1 demand (with clean arrival and ini­tial reac­tion) could prove reac­tive enough to even­tu­al­ly form a new W1 demand around these levels. 

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • MN-C‑S 1.97316
  • MN-C‑S 1.95032 BASE
  • H4-C‑S 1.91275
  • H4-C‑S 1.90363

ZOIs for Pos­si­ble Long

  • MN-C‑D 1.89659
  • H4-C‑D 1.89269
  • D1-C‑D 1.89128
  • W1-C‑D 1.85922

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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