Bear Market Trader | Weekly trading Plan GBPNZD
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GBPNZD Week 6 Trading Plan

GBPNZD Week 6 Trading Plan

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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

  • Last month com­plete a Morn­ing Star with a long buy­ing wick although not clos­ing far above MN-C‑D 1.89745 as there are still some sell­ers present

Week­ly — Slight­ly Bearish

  • Last week trad­ed down as a slight Bear Engulf (and did not take out W1-C‑S 1.90661 but test­ed many times) but again a long buy­ing wick was formed after test­ing under­neath MN-C‑D 1.89745 
  • Failed to close above W1 QLo

Dai­ly — Slight­ly Bullish

  • D1 Bull Engulf formed (giv­ing D1-C‑D 1.89878) with no fol­low-through. Instead react­ing off D1-C‑S 1.91538 and clos­ing as an Inside Bar with long sell­ing wick. We’d need anoth­er day’s close to get a bet­ter direc­tion­al confirmation.
  • Price has not yet reached D1 QHi.

H4 — Slight­ly Bearish

  • A RBR into over­head sup­ply failed to push high­er form­ing a Bear Engulf giv­ing new H4-C‑S 1.91149 (reject­ing H4 QHi) and con­se­quent­ly formed a slight push lower.

Mar­ket Pro­file — Imbalance

  • A large val­ue area was cre­at­ed at a 2‑day brack­et indi­cat­ing a pos­si­ble pick­up on a change of sen­ti­ment on larg­er time frame. After which price climbed high­er form­ing a some­what wide val­ue area again at H4 QHi. 

Sen­ti­ment sum­ma­ry — Slight Imbalance

  • Price has not yet reached D1 QHi so there is room for more upside. In case price does reach­es this lev­el it would have tak­en out W1 sup­ply indi­cat­ing a high­er like­li­hood of a sen­ti­ment change to a bull­ish trend. How­ev­er, medi­um time­frame is indi­cat­ing a poten­tial bal­anc­ing first before com­mit­ting to a direc­tion­al bias. 

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1.91538
  • W1-C‑S 1.90661

ZOIs for Pos­si­ble Long

  • D1-C‑D 1.89878
  • MN-C‑D 1.89745

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 racer/Pilot.

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