20230525 Premarket Prep GBPNZD

#Fin­twit #GBPNZD #Forex #Mar­ket­Pro­file #Order­flow

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Larg­er Timeframe

Month­ly — Bullish

• Last month closed with­in MN supply
• Price trad­ing mid swing although near­ing MN QHi
• Con­jec­ture: price saw a move below sup­ply but then react­ed and is near­ing it’s high poten­tial­ly a con­tin­ued bull­ish sign although no close yet.

Week­ly — Bullish 

• W1 DBD clos­ing below W1 QHi
• Cur­rent­ly price is trad­ing above body and range and  retraced to Base Sup­ply and is test­ing orig­i­nat­ing lev­el at W1-C‑S 2.02620
• Con­jec­ture: Price could still see some reac­tion at W1 Supply. 

Nar­ra­tive

• D1
  • D1 Qlo reject­ed, price trad­ing with­in D1 QHi
• H4
  • Pos­si­ble H4 Phase 1 / 3 with­in Wide D1/H4 QHi giv­ing H4-C‑D 2.02419 HiDC at VAH
• Trend
  • Trend is UP 2/3
• Mar­ket Profile 
  • Val­ue cre­at­ed above the pre­vi­ous brack­et­ing range
• LN Open
  • 0.49 x ASR- Above Val­ue — Out­side Range
  • Mod­er­ate to Large Imbalance
  • Prev. Day Exceed­ed ADR by 2.79
  • Asia trad­ed higher
  • 0.50xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Late-Sus­tained Auction
• Hypo 2
  • Short
  • Rever­sal — Pos­si­ble Failed Auction
• Hypo 3
  • Short
  • 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

• Twit­ter
• Insta­gram