GBPNZD Week 50 Trading Plan - Bear Market Trader
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GBPNZD Week 50 Trading Plan

GBPNZD Week 50 Trading Plan

#Fin­twit #Order­flow #day­trad­ing #day­trade #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
    • Trad­ing with­in last month’s bar above MN-C‑D 1.89659

Week­ly — Neu­tral to Slight­ly Bearish

  • W1 Phase 4 run­ning into con­ges­tion with last week clos­ing as an Inside Bar retrac­ing more than 50%.

Dai­ly — Slight­ly Bullish

  • D1 Phase 1 fol­lowed with a Bull Engulf giv­ing D1-C‑D 1.89833 and Fri­day clos­ing as a D1 Shoot­ing Star react­ing off D1-C‑S 1.91534 and D1 VWAP in DT clos­ing as a continuation.

H4 — Slight­ly Bearish

  • H4 Bear Engulf formed at pre­vi­ous sup­ply H4-C‑S 1.91275 almost com­plete­ly returned to H4-C‑D 1.90553 BASE

Mar­ket Pro­file — Imbalance

  • Pro­files slop­ing up

Sen­ti­ment sum­ma­ry — Neutral

  • Still no W1 demand formed and the next demand is still far below. How­ev­er due to last week clos­ing as an Inside Bar (can expect medi­um term down­side still) and the Dai­ly show­ing a pos­si­ble tran­si­tion to Phase 2 (due to large sup­plies could be a bit risky as well as all trends are down) we could see new demand cre­at­ed here. Fail­ure to break and hold over D1 1.91534 would prove the opposite. 

Addi­tion­al notes

  • Brex­it Deal talks ongoing 

ZOIs for Pos­si­ble Shorts

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

ZOIs for Pos­si­ble Long

  • H4-C‑D 1.90553 BASE
  • D1-C‑D 1.89833
  • MN-C‑D 1.89659
  • 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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