Premarket Prep GBPNZD 20210304 - Bear Market Trader
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Premarket Prep GBPNZD 20210304

Premarket Prep GBPNZD 20210304

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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

  • Only trade the main account

Com­pared against Week­ly Trad­ing Plan

  • Price trad­ing below last week’s body above W1 QLo

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 Bull Engulf clos­ing near D1-C‑S 1.92964 and D1 200MA
    • H4 RBR at H4-C‑D 1.91540 clos­ing well with­in over­head sup­ply H4-C‑S 1.91955 fol­lowed by consolidation
    • Pre­mar­ket: H4 trad­ed low­er from consolidation
  • Trend: H4 Up, D1 Down, W1 Down
  • Mar­ket Profile
    • 2‑day over­lap­ping values
    • ADR: 1611
    • ASR: 1186
      • 30
    • Day
      • Yes­ter­day’s High 1.92720
      • Yes­ter­day’s Low 1.91108


  • Loca­tions
    • N,A.
  • Sen­ti­ment
    • LN open
      • Above Val­ue, With­in Range
    • Open dis­tance to value
      • 0.3xASR
    • Nar­ra­tive
      • Mod­er­ate Bal­ance. With con­tin­ued test­ing of over­head sup­ply and D1 200MA com­bined with larg­er time­frame sen­ti­ment still being bull­ish price could poten­tial­ly break higher. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1 — Return to Value
    • Nar­ra­tive: Open sen­ti­ment and larg­er time­frame bull­ish sen­ti­ment togeth­er with D1 narrative. 
    • Pre­ferred: Strong bull­ish price action near VAH, IB exten­sion up with sus­tained auc­tion tak­ing out LTF sup­plies and then clear­ing the H4 sup­ply.  Pos­si­ble test of val­ue with­out accept­ing and then revers­ing pos­si­bly through a failed auc­tion if not with­in IB.
    • Con: Trad­ing right into sup­ply could mean low/medium ini­tia­tive activity.
  • Hypo 2 — Val­ue Acceptance
    • Nar­ra­tive: Top of the D1 Phase 1 / 3 range as well as H4 clos­er low­er, and close prox­im­i­ty to val­ue edge
    • Pre­ferred: ear­ly accep­tance with quick follow-through
    • Con: H4 demand at VAL

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1.92964
  • H4-C‑S 1.91955

ZOIs for Pos­si­ble Long

  • H4-C‑D 1.91540
  • MN-C‑D 1.89719

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.

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