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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.
Monthly — Bullish
- MN Three Inside Up with retest of newly formed C‑dem and closing higher after having made a HH closing within MN supply
- Trading mid swing after a MN QLo and Q1 QLo rejection
- Price trading within last month’s body after having made a slight HH
Weekly — Bullish
- Last week closed as a W1 Bull Engulf with slight reaction off W1-C‑S 2.00000
- Possible W1 Phase 1 reaccumulation trading above W1 VWAP in UT coinciding with W1-C‑D 1.96800
- Price trading mid swing after W1 QLo was rejected
Daily — Bearish
- Price made a HH and closed as a D1 Three Outside Down at W1-C‑S 2.00000
- Price trading within D1 QHi
Sentiment summary — Bullish
- MN made a slight HH
- W1 closed as a Bull Engulf in a possible reaccumulation phase
- D1 QHi has made several attempts to reject but found no follow-through. Instead a repeated testing of said QHi.
Additional notes
- If ASR remains above 80 pips I can trade it
- Aug 27, 22:00, USD, Fed’s Chair Powell speech
ZOIs for Possible Shorts
- MN-C‑S 2.05903
- W1-C‑S 2.00000
ZOIs for Possible Long
- W1-C‑D 1.96800
- MN-C‑D 1.95263
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
- Weekly Focus Points
- 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