Latest Posts
Bear Market Trader | Premarket Prep GBPNZD - London session
day trade, day trading, forex, trade plan, trading plan, GBP NZD, GBPNZD, premarket prep, pre-market prep,
2562
post-template-default,single,single-post,postid-2562,single-format-standard,locale-en-us,ajax_fade,page_not_loaded,,side_area_uncovered_from_content,qode-theme-ver-9.5,hide_inital_sticky,wpb-js-composer js-comp-ver-4.11.2.1,vc_responsive
 

Premarket Prep GBPNZD 06232020

Premarket Prep GBPNZD 06232020

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.

Non-con­jec­ture obser­va­tions of the market

  • Trad­ed the day down touch­ing W1 QLo (just above D1-C‑D 1.92153) with reac­tion away
  • New­ly formed Demand H4-C‑D 1.92153 NEW with con­se­quent move up acti­vat­ing Q points (this would also mean we have a close out­side of QLo but with a slight­ly long sell­ing wick at VWAP slight­ly below H4-C‑S 1.93531)
  • New sup­ply and demand H1-C‑S 1.92791 NEW and H1-C‑D 1.92377 NEW
  • Mar­ket Profile
    • Few opens below value
    • Friday’s val­ue was very wide and yes­ter­day opened with­in val­ue and then reject­ing but revers­ing back up over value
    • Price cur­rent­ly trad­ing above val­ue but already exhaust­ed HK ASR so will need to reassess with LN open

Com­pared against Week­ly Trad­ing Plan

  • Dai­ly still below LKC and VWAP

Sen­ti­ment — Slight­ly Bullish

ZOIs for Pos­si­ble Shorts

  • H4-C‑S 1.93531
  • H1-C‑S 1.92791 NEW

ZOIs for Pos­si­ble Long

  • H4-C‑D 1.92153 NEW
  • H1-C‑D 1.92377 NEW

Focus Points for trad­ing development

  • Risk Man­age­ment
    • Only take 2 trades a day but only have 1 active trade on between the assets
    • After 4 los­ing trades reduce TP to 1.5R but after 1R can con­sid­er tak­ing profits
T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

No Comments

Post A Comment