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Premarket Prep GBPNZD 09232020 - Bear Market Trader
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Premarket Prep GBPNZD 09232020

Premarket Prep GBPNZD 09232020

#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

Week­ly goal

  • For­mu­late hypos in order of like­li­hood and track with actu­al devel­op­ment on the day

Non-con­jec­ture obser­va­tions of the market

  • Unclean arrival at D1-C‑S 1.91979, inside bar with long buy­ing and sell­ing wicks although buy­ing slight­ly longer. Still a long way to go to take out D1 sup­ply with high at 1.938.
  • 2nd H4 Bear Engulf at H4-C‑S 1.92109 but no fol­low-through, pos­si­ble phase 1
  • Mar­ket Profile
    • 2 days brack­et­ing at the bot­tom of the range, yes­ter­day above the brackets
    • ADR: 1386
    • ASR: 1459
      • 365
    • Day
      • Yes­ter­day’s High 1.92738
      • Yes­ter­day’s Low 1.91316
      • Price with­in value

Com­pared against Week­ly Trad­ing Plan

  • Trad­ing slight­ly above W1 Demand

Sen­ti­ment

  • Loca­tions
    • ADR 0.5 and exhaus­tion at yesterday’s high and LTF supply
    • ADR exhaus­tion Low and 0.5 at D1-C‑D 1.91303 
  • Sen­ti­ment
    • LN open
      • With­in value
    • Open dis­tance to value
      • N.A.
    • Sen­ti­ment
      • Bal­anced market. 
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1 — Val­ue Rejec­tion Up Fake out
    • ADR 0.5 at LTF supply
    • Price action rever­sal, sin­gle print fade, failed auction,
  • Hypo 2 — Respon­sive Activity
  • Hypo 3 — Val­ue Rejec­tion Down Fake out
    • Same as Hypo 1
  • Hypo 4 Val­ue Rejec­tion up
    • ADR exhaus­tion hit ear­ly on in the ses­sion, sus­tained auction.

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • H4-C‑S 1.94717
  • H4-C‑S 1.92109
  • D1-C‑S 1.91979

ZOIs for Pos­si­ble Long

  • H4-C‑D 1.91561 BASE
  • D1-C‑D 1.91303
  • H4-C‑D 1.91053

Mind­ful Trading

  • Feel­ing okay

Focus Points for trad­ing development

  • Week­ly Goal
    • For­mu­late hypos in order of like­li­hood and track with actu­al devel­op­ment on the day
    • Incor­po­rate pro­file day type
  • Trad­ing Rules
    • If Open out­side of val­ue con­sid­er the place­ment in rela­tion to ADR 
  • Risk Man­age­ment
    • 3 trades 1% risk, 3rd trade only if first 2 worked out
    • OK to take 1R when in DD
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

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