15 May 20230515 Premarket Prep GBPNZD
#Fintwit #GBPNZD #Forex #MarketProfile #Orderflow
This is my premarket prep for today’s European session for 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
Larger Timeframe
MN price trading:
Within Body — Within Supply — Mid Swing — Wide Q
W1 price trading:
Within Body — Within QHi — Wide Q — W1 Hammer failed to close below W1 QHi
Narrative
- D1
- Price closed within D1 Supply Base through D1 Three Outside Down giving D1-C-D1.98627 Momentum
- H4
- H4 Supply created at D1 Supply Base
- H4 QHi reject, price trading mid swing
- Trend
- Trend is DOWN 2/3
- Market Profile
- Wider value created above the previous
- LN Open
- 0.14 x ASR- Below Value — Within Range
- Moderate Imbalance
- Prev. Day Exceeded ADR by 2.08
- 0.33xASR IBR
- Asia traded lower
- A TPO closed within Value
Additional Notes
- N.A.
Hypos
- Hypo 1
- Short
- Sustained Auction
- Hypo 2
- Long
- Value Acceptance
- Hypo 3
- Short
- Failed Auction
- Hypo 4
- Long
- Auction Fade
Clarity / Confidence (1 — 5, low to high)
- 1
Mindful Trading (1–5 Bad to Good)
- 2
Focus Points for trading development
- Monthly Goals
- Use SL scaling
T3chAddict
Posted at 12:20h, 15 MayA: Accepted Value
B: Closed as an Inside Bar with longer selling wick
C: Closed within Value as a possible consolidation
D: Closed well extended above IB
E: Closed making a HH
F: Closed making a HH
G: Made a HH rotating fully through (Wide) value
H: Made a slight HH
I: Made a HH