20230526 Premarket Prep GBPNZD

#Fin­twit #GBPNZD #Forex #Mar­ket­Pro­file #Order­flow

Larg­er Timeframe

MN price trading:

With­in Body — With­in Sup­ply — Mid Swing — Price test­ed sup­ply but duck­ing slight­ly below but is now trad­ing back near its high again. 

W1 price trading:

Above Body — Above Range — With­in QHi — Wide Q — Price not only retraced to orig­i­nat­ing lev­el it also took out W1 supply

Nar­ra­tive

• D1
  • Price took out D1 sup­ply but failed to close above pre­vi­ous struc­ture high
  • Price trad­ing with­in Wide D1 QHi
• H4
  • H4 Three Out­side Down giv­ing H4-C‑S 2.03483 with­in value
• Trend
  • Trend is UP 2/3
• Mar­ket Profile 
  • Wide Val­ue cre­at­ed above the previous
• LN Open
  • 0.00 x ASR- With­in Value
  • Prev. Day Exceed­ed ADR by 1.04
  • Asia trad­ed lower
  • 0.57xASR IBR

Addi­tion­al Notes

• Pos­si­ble Fri­day profit-taking

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion — Pos­si­ble 3‑I Day
• Hypo 2
  • Long
  • Late-Sus­tained Auction
• Hypo 3
  • 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