Bear Market Trader | Weekly trading Plan GBPNZD
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GBPNZD Week 7 Trading Plan

GBPNZD Week 7 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. 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 com­plet­ed a Morn­ing Star with a long buy­ing wick although not clos­ing far above MN-C‑D 1.89745
  • Cur­rent­ly price has trad­ed below, test­ing, and is trad­ing above last month’s body

Week­ly — Bullish

  • W1 con­sol­i­da­tion end­ing with a Bull Engulf fin­ish­er tak­ing out W1-C‑S 1.92156 clos­ing above W1 QLo (although not the strongest rejec­tion at the moment)

Dai­ly — Slight­ly Bullish

  • D1-C‑S 1.91538 has been test­ed numer­ous times although right above it we have D1 200MA coin­cid­ing with D1-C‑S 1.92939
  • D1 RBR clos­ing above W1 QLo with 2 tests of D1 QHi

H4 — Slight­ly Bullish

  • Price trad­ing with­in H4 QHi with two tests off old sup­ply H4-C‑S 1.92348

Sen­ti­ment sum­ma­ry — Slight­ly Bullish

  • Due to W1 Bull Engulf fin­ish­er (as well as MN sen­ti­ment) com­bined with D1 test­ing of over­head sup­ply numer­ous times we could see a con­tin­u­a­tion high­er. Some con­ges­tion on D1 sup­plies are still in the way although high­er time­frame is more like­ly to pre­vail and thus I expect these to get tak­en out. Along these lines we could then also poten­tial­ly see a D1 200MA break out as it is flat­ten­ing right now and tak­ing out of over­head sup­ply would mean clos­ing well above the 200MA. Longs are favored more than shorts (riski­er). A con to the the­sis is the arrival at D1 QHi, but due to a rejec­tion (could be stronger) of W1 QLo we could dis­re­gard the D1 QHi although we might see some push­back around these lev­els also iden­ti­fied through the sup­plies men­tioned earlier.

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1.92939
  • H4-C‑S 1.92348
  • D1-C‑S 1.91538

ZOIs for Pos­si­ble Long

  • D1-C‑D 1.90495
  • 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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