20230608 Premarket Prep GBPNZD

#Fin­twit #GBPNZD #Forex #Mar­ket­Pro­file #Order­flow

⇧ Hypos and more info with­in link above ⇧

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 23 Trad­ing Plan

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

Larg­er Timeframe

MN price trading:

With­in Body — With­in QHi — Wide Q — Price made a HH and then trad­ed lower

W1 price trading:

Above Body — With­in Range — With­in QHi — Wide Q 

Nar­ra­tive

• D1
  • D1 Bull Engulf giv­ing D1-C‑D 2.04773 HiDC with­in val­ue near PPOC
  • Price trad­ing with­in Wide D1/W1 QHi
• H4
  • H4 Bear Engulf at MN-C‑S 2.05880 coin­cid­ing with H4 UKC in UT
• Trend
  • Trend is UP 2/3
• Mar­ket Profile 
  • Wide val­ue cre­at­ed above the previous
• LN Open
  • 0.83 x ASR- Above Val­ue — Out­side Range
  • Mod­er­ate to Large Imbalance
  • Prev. Day Exceed­ed ADR by 1.45
  • Asia trad­ed lower
  • 0.89xASR Wide IBR

Addi­tion­al Notes

• N.A. 

Hypos

• Hypo 1
  • Long
  • Rever­sal — Pos­si­ble Failed Auction
• Hypo 2
  • Short
  • Weak­ness From With­in IBR
• Hypo 3
  • Short
  • Failed Auc­tion
• Hypo 4
  • Long
  • Strength From With­in IBR

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