Premarket Prep GBPNZD 08032020 - Bear Market Trader
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Premarket Prep GBPNZD 08032020

Premarket Prep GBPNZD 08032020

#pre­mar­ket­prep #trad­ing­forex #forex #FX #day­trad­ing #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.

Non-con­jec­ture obser­va­tions of the market

  • Some sup­ply formed D1-C‑S 1.97294, pos­si­bly RBR or Evening star
  • H4 Inside Bar fol­lowed by con­sol­i­da­tion form­ing sup­ply D1-C‑S 1.97294
  • Mar­ket Profile
    • Price cur­rent­ly trad­ing above val­ue with­in range right on top of VAH

Com­pared against Week­ly Trad­ing Plan

  • D1 trad­ing above UKC break­ing the downtrend

Sen­ti­ment — Slight­ly Bullish

Addi­tion­al notes

  • Thurs­day
    • BOE Gov Bai­ley Speaks

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1.99731
  • D1-C‑S 1.97294

ZOIs for Pos­si­ble Long

  • MN-C-D1.89919
  • W1-C‑D 1.92020
  • D1-C‑D 1.92660
  • H4-C‑D 1.96146
  • H4-C‑D 1.94792
  • H4-C‑D 1.94185
  • H4-C‑D 1.96348

Mind­ful Trading

  • Slept very light last night

Focus Points for trad­ing development

  • Week­ly Goal
    • Have cor­rect SL place­ment and posi­tion sizing
  • Risk Man­age­ment
    • 1 allowed products
      • GBPNZD
    • 1 active opened positions
    • 1% dai­ly loss limit
    • 1R prof­it-tak­ing allowed until draw­down is over
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING

Day trader. Tech geek. Sim Racing Enthusiast.

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