GBPNZD 2021 Week 29 Trading Plan - Bear Market Trader
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GBPNZD 2021 Week 29 Trading Plan

GBPNZD 2021 Week 29 Trading Plan

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #GBPNZD 

This is my week­ly out­look on GBPNZD. The lev­els that I will be look­ing at with a high­er prob­a­bilis­tic chance the mar­ket will start react­ing. Dur­ing the ses­sion I then wait for the mar­ket to hit those lev­els and either con­firm or reject my bias through price action con­fir­ma­tion and order flow. I hope that makes sense. If not, please get in touch with me. I love to talk to peo­ple that are on the same path as me. So don’t be shy and reach out. 

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Month­ly — Bullish

  • MN Three Inside Up giv­ing MN-C‑D 1.95263 (plus a retrace­ment and test of new­ly formed demand) with last month clos­ing slight­ly above the con­sol­i­da­tion range with­in MN-C‑S 1.97293
  • Price trad­ing mid MN swing after a rejec­tion of QHi in January
  • Price is cur­rent­ly trad­ing with­in last month’s body after hav­ing pulled back to new­ly formed MN-C‑D 1.95263

Week­ly — Bearish

  • W1 QLo reject­ed and price is cur­rent­ly trad­ing mid-swing
  • Price test­ed W1 Sup­ply End 1.99582 before clos­ing as a W1 Bear Engulf hav­ing retraced to new­ly formed W1 Three Inside Up clos­ing below its c‑dem
  • Pos­si­ble W1 Phase 3 although price is still above W1 VWAP in UT

Dai­ly — Bearish

  • D1 QHi reject­ed with a big bar fol­lowed by two tests of QHi and close down with­in D1/W1 demand (very wide) as a DBD with C‑sup right on top of demand

Sen­ti­ment sum­ma­ry — Bearish

  • Price test­ed new­ly formed MN c‑dem but has not made a HH yet
  • W1 has a 2nd Bear Engulf and was unable to take out W1 sup­ply but W1 QLo has been reject­ed so there could be yet again no fol­low-through down as price is also still above W1 VWAP in UT.
  • D1 has reject­ed QHi mul­ti­ple times but failed to fol­low-through on it. With MN still being bull­ish and price trad­ing with­in D1 demand there could be a move high­er but would need PA to confirm. 

Addi­tion­al notes

  • Jul 19, 18:00, GBP, BoE’s Haskel speech
  • Jul 22, 19:45, EUR, ECB Inter­est Rate Decision
  • Jul 22, 20:30, EUR, ECB Mon­e­tary Pol­i­cy State­ment and Press Conference
  • Jul 22, 20:30, USD, Ini­tial Job­less Claims

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1.98839
  • W1-C‑S 1.97725

ZOIs for Pos­si­ble Long

  • W1-C‑D 1.96800
  • MN-C‑D 1.89782

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 13 trades by the end of the month
  • Week­ly Goal
    • Week­ly Focus Points
      • Min. 3 times work­ing out at home + manda­to­ry cardio
    • Trad­ing rules
      • Focus on tak­ing ONE trade a day. If I missed the first DTTZ then a trade needs to be tak­en on the 2nd DTTZ unless there is a high/medium ini­tia­tive activ­i­ty day.
      • Only price-action based exit rules (or if hit time stop comes earlier)
      • M15/M30 entries and exits at 1st DTTZ, M5 entries and exits at 2nd DTTZ
      • Buffer trades (prof­it tar­get >1R) are allowed and encouraged
      • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
      • No social media / mes­sen­ger apps / phone calls allowed dur­ing the trad­ing window
  • Risk Man­age­ment
    • With­out forc­ing a trade: aim to take 1 trade a day, if pos­si­ble 2. 
    • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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