GBPNZD Week 5 Trading Plan - Bear Market Trader
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GBPNZD Week 5 Trading Plan

GBPNZD Week 5 Trading Plan

#Fin­twit #Order­flow #day­trad­ing #day­trade #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 order flow through 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 Bullish

  •  MN Drag­on­fly doji at MN-C‑D 1.89745 in Decem­ber, with last month com­plet­ing a Morn­ing Star with a long buy­ing wick although not clos­ing far above MN-C‑D 1.89745. 

Week­ly — Slight­ly Bullish

  • W1 Bull Engulf form­ing demand on top of MN-C‑D 1.89745 fol­lowed by a Grave­stone Doji form­ing some sup­ply and fol­lowed by a slight push high­er leav­ing a longer buy­ing wick behind but hasn’t tak­ing out said sup­ply (yet).
  • Price trad­ing at VWAP in DT at LKC

Dai­ly — Neu­tral to Slight­ly Bullish

  • Mul­ti­ple tests of D1-C‑S 1.91538 (and UKC in R) form­ing an Evening Star leav­ing a buy­ing wick behind react­ing off new­ly formed D1 demand at MN-C‑D 1.89745
  • Pos­si­ble Phase 1
  • Price near­ing D1 200MA in DT

H4 — Neutral

  • Price trad­ing between H4-C‑D 1.90733 and H4-C‑S 1.91236

Mar­ket Pro­file — Imbalance

  • Val­ue area below pre­vi­ous after a UT

Sen­ti­ment sum­ma­ry — Imbalance

  • The large time frame might be set­ting up for a move high­er although the medi­um time frame would need to break through sup­port tak­ing out 1.92156 before we can con­firm this. Ranges are still too tight though so will need insti­tu­tions to get involved before we can get in on it too. 

Addi­tion­al notes

  • Fri­day: non-farm 
  • Ranges still too tight
  • BOE Mon­e­tary Pol­i­cy Report

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1.91538
  • H4-C‑S 1.91236

ZOIs for Pos­si­ble Long

  • MN-C‑D 1.89745
  • H4-C‑D 1.90733

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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