Premarket Prep GBPNZD 20210310 - Bear Market Trader
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Premarket Prep GBPNZD 20210310

Premarket Prep GBPNZD 20210310

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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
  • Focus on time-based exits
  • Don’t look at M5 chart unless with­in the last hour of trad­ing window

Com­pared against Week­ly Trad­ing Plan

  • Still trad­ing above last week’s close and made a new high
  • W1 QLo rejection

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 closed as an Inside Bar with long sell­ing wick with­in D1 sup­ply (still intact)
    • H4 Phase 3 although due to larg­er time­frame bull­ish sen­ti­ment this could be a redistribution
    • Pre­mar­ket: H4 Bull Engulf at H4 C‑dem with no imme­di­ate fol­low-through instead an Inside Bar
  • Trend: H4 UP, D1 DOWN, W1 DOWN
  • Mar­ket Profile
    • Wider val­ue cre­at­ed below pre­vi­ous value
    • ADR: 1470
    • ASR: 1217
      • 31
    • Day
      • Yes­ter­day’s High 1.94517
      • Yes­ter­day’s Low 1.93316


  • Loca­tions
    • H4-C‑S 1.94100 above VAH with­in range at M30 QHi at ADR 0.5 High
    • H4-C‑D 1.93783 with­in value
    • LTF demand at VAL with­in M30 QLo
  • Sen­ti­ment
    • LN open
      • With­in Value
    • Open dis­tance to value
      • N.A.
    • Nar­ra­tive
      • Bal­anc­ing Mar­ket. With sev­er­al rejec­tions of sup­ply with­out fol­low-through down and larg­er time­frame bull­ish sen­ti­ment the sen­ti­ment is still over­all slight­ly bull­ish. Pre­mar­ket H4 closed as an Inside Bar that could go either way so will let mar­ket pro­file guide the way. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1 — Bal­anc­ing Market
    • Nar­ra­tive: Open with­in val­ue, pos­si­ble H4 Phase 1 / 3
    • Pre­ferred: Play off near­by LTF SD and ADR levels
  • Hypo 2 — Val­ue Rejec­tion Up
    • Nar­ra­tive: H4 bull engulf fol­lowed by an inside bar that could poten­tial­ly be a base in line with larg­er time­frame bull­ish sen­ti­ment. Plus price opened below VAH.
    • Pre­ferred: Ear­ly con­fi­dent close above VAH coin­cid­ing with IB exten­sion up, tak­ing out LTF sup­ply, sus­tained auc­tion up.
    • Con: H4 sup­ply (although test­ed many times)

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • H4-C‑S 1.94100 (old)
  • D1-C‑S 1.92964

ZOIs for Pos­si­ble Long

  • H4-C‑D 1.93783
  • H4-C‑D 1.92350

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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