Bear Market Trader | Weekly trading Plan GBPNZD
day trade, day trading, forex, FX, trade plan, trading plan, GBP NZD, GBPNZD, premarket prep, pre-market prep, tradingforex, traderlifestyle, daytraderlife, weekly trading plan,
post-template-default,single,single-post,postid-3936,single-format-standard,vcwb,bridge,ajax_fade,page_not_loaded,,side_area_uncovered_from_content,qode-theme-ver-9.5,hide_inital_sticky,wpb-js-composer js-comp-ver-4.12,vc_responsive

GBPNZD Week 51 Trading Plan

GBPNZD Week 51 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 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

  • Mov­ing deep­er into under­ly­ing demand MN-C‑D 1.89659

Week­ly — Slight­ly Bear­ish to Neutral

  • Price form­ing a DBD arriv­ing clean at W1-C‑D 1.85837 (test­ed once before in July 2019 and was cre­at­ed Decem­ber 2018) with lit­tle reaction

Dai­ly — Bearish

  • D1 Bear Engulf (@D1 VWAP)  giv­ing D1-C‑S 1.89847 with fol­low-through down with some reac­tion at W1 C‑Dem
  • With­in D1 QLo

H4 — Slight­ly Bear­ish to Neutral

  • Con­sol­i­da­tion (with long buy­ing wicks) with­in H4 Phase 4 break­ing down giv­ing H4-C‑S 1.87495 with fol­low-through. Inside bar with longer buy­ing wick cre­at­ed at W1 C‑Dem fol­lowed by some consolidation.

Mar­ket Pro­file — Imbalance

  • Pro­files in DT with Fri­day hav­ing cre­at­ed a wider val­ue area

Sen­ti­ment sum­ma­ry — Neutral

  • With an accel­er­at­ed move down from D1 VWAP after a Phase 1 / 3 (which turned out to be a Phase 3) tak­ing out under­ly­ing demands and hit­ting W1 C‑Dem (2nd time test­ing) we could see a bounce and some reac­tion from this lev­el although medi­um time frames could show a con­tin­u­a­tion on the short to medi­um term. 

Addi­tion­al notes

  • Brex­it talks on-going (1 more day). Will update Mon­day in Pre­mar­ket Prep. 

ZOIs for Pos­si­ble Shorts

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

ZOIs for Pos­si­ble Long

  • MN-C‑D 1.89659
  • D1-C‑D 1.89128
  • W1-C‑D 1.85922
  • H4-C‑D 1.85038
  • D1-C‑D 1.84313

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.

No Comments

Post A Comment

The maximum upload file size: 128 MB. You can upload: image, audio, video, document, spreadsheet, interactive, text, archive, code, other. Links to YouTube, Facebook, Twitter and other services inserted in the comment text will be automatically embedded. Drop files here