12 Jul 20230712 Premarket Prep GBPNZD

⇧ Detailed plan with HYPOS out­lined with­in link ⇧

#Fin­twit #GBPNZD #VWAP #Kelt­ner #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 28 Trad­ing Plan

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

Larg­er Timeframe

MN price trading:

Last month closed as a Spin­ning Top with slight­ly longer buy­ing wick

Above Body — With­in Range — With­in QHi — Wide Q

Price trad­ing at MN UKC in R

2nd test of MN supply

W1 price trading:

Above Body — Above Range — With­in Sup­ply — With­in QHi — Wide Q

Long wicks around

Last week closed as a pos­si­ble base with longer buy­ing wick

Price made a HH trad­ing deep­er with­in W1 Sup­ply near­ing W1 Sup­ply End 2.10332

Nar­ra­tive

D1

Price closed deep­er with­in D1/W1 Sup­ply tak­ing out a new­ly formed D1 sup­ply and closed above pre­vi­ous struc­ture high (not yet above chan­nel FT)

Price trad­ing with­in Wide D1/W1 QHi

Price test­ed 50% mark and is pos­si­bly reactive

H4

H4 Bear Engulf at MN Supply

H4 swing tak­en out

Trend

Trend is UP 3/3

Mar­ket Profile

Val­ue cre­at­ed above the previous

LN Open

With­in Value

Prev. Day Exceed­ed ADR by 1.69

Asia trad­ed lower

Pre­mar­ket formed a H4 Inside Bar

0.45xASR IBR

Addi­tion­al Notes

N.A.

Hypo 1

Short

Rever­sal — Pos­si­ble Failed Auction

Hypo 2

Long

Rever­sal — Pos­si­ble Failed Auction

Hypo 3

Long

Late-Sus­tained Auction

Hypo 4

Short

Late-Sus­tained Auction

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

2

Mind­ful Trad­ing (1–5 Bad to Good)

3

Don’t know what all the abbre­vi­a­tions are? Check out my lexicon:

Lex­i­con

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