19 May 20230519 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:

Price was trad­ing with­in MN sup­ply but ducked slight­ly below

Price trad­ing mid swing — Wide Q

W1 price trading:

Below Body — With­in Range — Price ducked below W1 QHi — Pos­si­bly devel­op­ing a W1 DBD

Nar­ra­tive

• D1
  • Price trad­ing with­in D1 demand, near­ing D1 QLo (coin­cid­ing with D1 LKC in UT)
• H4
  • H4 Three Out­side Down giv­ing H4-C‑S 1.99543 Momentum
  • Price closed with­in H4 QLo
• Trend
  • Trend is DOWN 2/3
• Mar­ket Profile 
  • 2 over­lap­ping values
• LN Open
  • 0.81 x ASR- Below Val­ue — Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed lower
  • Prev. Day trad­ed 0.94xASR, pos­si­ble momentum
  • Pos­si­ble Fri­day Profit-Taking
  • 0.55xASR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Late-Sus­tained Auction
• Hypo 2
  • Long
  • Rever­sal
• Hypo 3
  • Short
  • Weak­ness From With­in IBR
• Hypo 4
  • Long
  • Auc­tion Fade

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

• 2

Mind­ful Trad­ing (1–5 Bad to Good)

• 2

Focus Points for trad­ing development

• Month­ly Goals 
  • Use SL scaling

• Twit­ter
• Insta­gram