Bear Market Trader | Premarket Prep GBPNZD - London session
day trade, day trading, forex, FX, trade plan, trading plan, GBP NZD, GBPNZD, premarket prep, pre-market prep, tradingforex, traderlifestyle, daytraderlife,

Premarket Prep GBPNZD 01072021

Premarket Prep GBPNZD 01072021

#fin­twit #order­flow #day­trad­ing #pre­mar­ket­prep #Forex­trad­er #forex #FX #Forexlifestyle #day­trade #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #GBPNZD 

This is my pre­mar­ket prep for today’s Euro­pean ses­sion for the Forex pair GBPNZD. This prep builds off of my week­ly trade plan I made here:

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Week­ly Focus Points

  • Don’t take trades where SL place­ment is sub­op­ti­mal. Instead, reassess for a bet­ter entry if pos­si­ble. Unless there is a momen­tum play.

Com­pared against Week­ly Trad­ing Plan

  • Trad­ing away from W1 sup­ply deep­er into MN demand arriv­ing at W1-C‑D 1.85877

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 Phase 4 mov­ing deep­er into D1-C‑D 1.87573 (and D1 QLo) arriv­ing clean­ly at W1-C‑D 1.85877
    • H4 Phase 4 arriv­ing at H4-C‑D 1.86623 and H4 QLo and con­sol­i­dat­ing below QLo
  • Mar­ket Profile
    • Val­ue areas in DT
    • ADR: 1315
    • ASR: 980
      • 25
    • Day
      • Yes­ter­day’s High 1.87964
      • Yes­ter­day’s Low 1.86184


  • Loca­tions
    • H4-C‑D 1.86623 below VAL with­in range
  • Sen­ti­ment
    • LN open
      • Below Val­ue, With­in Range
    • Open dis­tance to value
      • 0.2xASR
    • Sen­ti­ment
      • Mod­er­ate Imbal­ance. With close prox­im­i­ty to val­ue and near­by H4 C‑dem we could see a val­ue accep­tance. Medi­um time frame is con­sol­i­dat­ing so a break below deep­er into demand would sug­gest a con­tin­u­a­tion to the move. Although price is trad­ing with­in H4/D1 QLo. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1 — Val­ue Acceptance
    • Pre­ferred: Ear­ly accep­tance, quick rota­tion, IB exten­sion up with sus­tained auction
  • Hypo 2 — Trend Continuation
    • Pre­ferred: Con­fi­dent break below, IB exten­sion down with sus­tained auction. 

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1.90528
  • H4-C‑S 1.90051
  • H4-C‑S 1.88284

ZOIs for Pos­si­ble Long

  • D1-C‑D 1.87573
  • H4-C‑D 1.86623
  • W1-C‑D 1.85877

Mind­ful Trading

  • Feel­ing okay

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
  • 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.

No Comments

Post A Comment