Premarket Prep GBPNZD 08172020 - Bear Market Trader
day trade, day trading, forex, FX, trade plan, trading plan, GBP NZD, GBPNZD, premarket prep, pre-market prep, tradingforex, traderlifestyle, daytraderlife,

Premarket Prep GBPNZD 08172020

Premarket Prep GBPNZD 08172020

#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

  • D1 sup­ply formed same c‑line as H4-C‑S 1.99926 and price is still trad­ing within
  • H4 doji formed after (con­sol­i­da­tion and move up) but no con­fir­ma­tion on direc­tion yet now shares demand c‑line with H4-C‑S 1.99926
  • Mar­ket Profile
    • ADR 1316
    • ASR 1013
      • Max 21 long
      • Max 30 short
    • Price cur­rent­ly trad­ing with­in value

Com­pared against Week­ly Trad­ing Plan

  • Mid MN, W1, and D1 swing
  • W1 closed above VWAP, cur­rent can­dle with­in last week’s body
  • H4, D1 trend is up, W1 is down

Sen­ti­ment — Neutral

  • Price is cur­rent­ly with­in val­ue and show­ing lots of low­er time frame SD ZOIs on either side and ADR 0.5 and exhaus­tion lay­ing fur­ther out­side of value
  • Best to stay out unless there is a con­flu­ence around the lev­els of ADR

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • H4-C‑S 2.01138
  • H4-C‑S 1.99926

ZOIs for Pos­si­ble Long

  • H4-C‑D 1.99926
  • H4-C‑D 1.99557

Mind­ful Trading

  • Slept very light. Took a nap.

Focus Points for trad­ing development

  • Week­ly Goal
    • Align with mar­ket narrative
    • Tak­ing a trade is not a priority 
  • Risk Man­age­ment
    • 3 trades 1% risk
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING

Day trader. Tech geek. Sim racer/Pilot.

No Comments

Post A Comment