18 May 20230518 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:

GBPNZD 2023 Week 20 Trad­ing Plan

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:

Below Body — With­in Range — Price ducked below Wide W1 QHi (no close yet), pos­si­bly devel­op­ing a W1 DBD

Nar­ra­tive

• D1
  • Price trad­ed low­er from D1-C‑S 2.00771 clos­ing as anoth­er D1 Hammer
  • D1 QHi reject­ed, price trad­ing mid swing
• H4
  • H4 QHi reject­ed, price trad­ing mid swing
  • Pos­si­ble H4 Phase 1 / 3 above H4 QLo with H4 Bear Engulf giv­ing H4-C‑S 1.99583
• Trend
  • Trend is DOWN 2/3
• Mar­ket Profile 
  • Val­ue cre­at­ed below the previous
• LN Open
  • 0.00 x ASR- With­in Value
  • Prev. Day Exceed­ed ADR by 1.12
  • Asia trad­ed lower
  • Frank­furt formed a Bear Engulf
  • 0.45xASR IBR closed below VAL

Addi­tion­al Notes

• N.A. 

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion — pos­si­ble 3‑I day
• Hypo 2
  • Long
  • Late-Sus­tained Auction
• Hypo 3
  • Short
  • Auc­tion Fade

Clar­i­ty / Con­fi­dence (1 — 5, low to high)

• 2

Mind­ful Trad­ing (1–5 Bad to Good)

• 3

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram