Bear Market Trader | Weekly trading Plan GBPNZD
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GBPNZD Week 52 Trading Plan

GBPNZD Week 52 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 — Neutral

  • MN-C‑D 1.89719 reac­tive after a dig deep­er into demand but still need the month to close

Week­ly — Bullish

  • Price returned to W1-C‑S 1.89524 BASE (after react­ing off W1-C‑D 1.85879) leav­ing behind a big Inside Bar retrac­ing more than 50%

Dai­ly — Neu­tral to Slight­ly Bearish

  • Price returned to D1-C‑S 1.89834 leav­ing behind D1-C‑D 1.97549 fol­lowed by a weak Three Inside Down with longer buy­ing wick but hasn’t had a fol­low-through yet (@D1 VWAP) 
  • Mid D1 swing

H4 — Neutral

  • Messy price action with H4 Bear Engulf at H4-C‑S 1.89952 (and H4 QHi) giv­ing H4-C‑S 1.89660 with no fol­low-through. Instead a Morn­ing Star with longer buy­ing wick giv­ing H4-C‑D 1.89320

Mar­ket Pro­file — Balancing

  • 3 day brack­et­ing range

Sen­ti­ment sum­ma­ry — Balancing

  • Even though W1 reached a Base lev­el and closed as a bull­ish Inside Bar (pos­si­ble Three Inside Up, there is a con­sol­i­da­tion and bal­anc­ing going on on D1 and H4. If price takes out over­head demand at D1 Sup­ply End 1.91080 we still have more inter­fer­ence above at D1-C‑S 1.94545 and D1-C‑S 1.92932. Might be good to prac­tice my Trend Con­tin­u­a­tion into SD zones play. As there is no imme­di­ate medi­um time frame demand (although some H4 demand at H4-C‑D 1.89320) we could see a move down on the short term (as a pos­si­ble pull­back to the W1 nar­ra­tive) but this is already too much con­jec­ture 🙂 Let’s see how the week unfolds. 

Addi­tion­al notes

  • Brex­it talks ongoing 

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1.92932
  • D1-C‑S 1.94545
  • D1-C‑S 1.89834
  • H4-C‑S 1.89952
  • H4-C‑S 1.89660

ZOIs for Pos­si­ble Long

  • MN-C‑D 1.89719
  • H4-C‑D 1.89320
  • W1-C‑D 1.85879

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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