Bear Market Trader | Premarket Prep GBPNZD - London session
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Premarket Prep GBPNZD 20210427

Premarket Prep GBPNZD 20210427

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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

  • Min. 3 times hit­ting the gym + manda­to­ry cardio
  • Only trade the main account
  • Be mind­ful of DTTZs
  • Only price-action based exit rules (or if hit time stop comes earlier)
  • M15/M30 entries and exits at 1st DTTZ, M5 entries and exits at 2nd DTTZ

Com­pared against Week­ly Trad­ing Plan

  • W1 Phase 4 near­ing W1 QLo / W1 VWAP trad­ing below last week’s body and range

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 DBD clos­ing deep with­in D1-C‑D 1.92900 trad­ing at D1 LKC and W1-C‑D 1.92120
    • H4 Bear Engulf at H4 VWAP in DT giv­ing H4-C‑S 1.92671 clos­ing deep­er into H4 demand with some reac­tion and con­se­quent rever­sal at H4 swing low
    • Price trad­ing with­in H4 QLo
  • Trend: H4 Up, D1 Down, W1 Up
    • Pre­vail­ing trend: Mixed Trend
  • Mar­ket Profile
    • Val­ue in DT where some have been touch­ing and yesterday’s val­ue was 0.75xASR wide
  • Dai­ly Range
    • ADR: 1118
    • ASR: 1049
      • 26
    • Day
      • Yes­ter­day’s High 1.93180
      • Yes­ter­day’s Low 1.91784


  • Loca­tions
    • H4-C‑S 1.92671 at VAH
    • W1-C‑D 1.92120 at VAL
  • Sen­ti­ment
    • LN open
      • With­in Value
    • Open dis­tance to value
      • N.A.
    • Pre­mar­ket
      • Closed as a H4 doji with slight­ly longer buy­ing wick, pos­si­ble base, com­ing from W1 demand.
    • Nar­ra­tive
      • Bal­anc­ing Mar­ket. Although pre­mar­ket there has been a move away from W1 demand. Wide Val­ue cre­at­ed sig­nal­ing a pos­si­bil­i­ty for more inter­est at these levels.
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1 — Bal­anc­ing Market
    • Nar­ra­tive: open sentiment
    • Pre­ferred: Play off LTF SD and ADR lev­els, H4 c‑sup
    • Con: No brack­et, at the end of a DT, pos­si­bil­i­ty for a rever­sal here
  • Hypo 2 — Val­ue Rejec­tion Up
    • Nar­ra­tive: Wide val­ue cre­at­ed in a DT at W1 demand trad­ing with­in D1 demand, pre­mar­ket trad­ed up. 
    • Pre­ferred: Strong bull­ish PA with IB exten­sion up and sus­tained auc­tion clos­ing above VAH
    • Con: Open at VAL, H4 C‑sup
  • Hypo 3 — Val­ue Rejec­tion Down
    • Nar­ra­tive: Con­tin­u­a­tion to W1 Phase 4
    • Pre­ferred: Strong bear­ish PA, IB exten­sion down with sus­tained auc­tion tak­ing out H4 demand
    • Con: trad­ing into W1/D1 demand

Addi­tion­al notes

  • Cap­i­tal Preser­va­tion Rule in effect

ZOIs for Pos­si­ble Shorts

  • H4-C‑S 1.92671

ZOIs for Pos­si­ble Long

  • D1-C‑D 1.92900
  • W1-C‑D 1.92120 (pos­si­ble BASE)

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay although not a 100%

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Feel­ing okay with NOT trading
    • Have ‘qui­eter’ weekends
  • Week­ly Goal
    • Min. 3 times hit­ting the gym + manda­to­ry cardio
    • Only trade the main account
    • Be mind­ful of DTTZs
    • Only price-action based exit rules (or hit time stop)
    • M15/M30 com­bi­na­tion at 1st DTTZ, M5 entries and exits at 2nd DTTZ
  • 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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