GBPNZD Week 10 Trading Plan

06 Mar GBPNZD Week 10 Trading Plan

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

This is my week­ly out­look on the Forex pair GBPNZD. Basi­cal­ly the lev­els that I will be look­ing at where it has 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 — Slight­ly Bullish

• Slight con­tin­u­a­tion trad­ed high­er away from MN-C‑D 1.89719 although clos­ing with a sell­ing wick (buy­ing wick longer) indi­cat­ing some sell­ers are still present
• Price cur­rent­ly trad­ing above last month’s body close

Week­ly — Slight­ly Bullish

• Price trad­ed and closed high­er from con­sol­i­da­tion how­ev­er closed with equal­ly long buy­ing and sell­ing wicks test­ing W1 QLo

Dai­ly — Slight­ly Bearish

• After clos­ing above D1 200MA Fri­day sold off a bit clos­ing as an Bear­ish Inside Bar react­ing off H4-C‑S 1.94100 still trad­ing with­in D1 QHi
• Price test­ed over­head sup­ply and D1 200MA mul­ti­ple times

Sen­ti­ment sum­ma­ry — Slight­ly Bullish

• Due to larg­er time­frame bull­ish sen­ti­ment we could poten­tial­ly see a break­out from D1 200MA. For the short term we might see some more range bound price action unless price can take out D1 Sup­ply End 1.94830 which would coin­cide with a return to a Month­ly base lev­el. Although there is a W1 sup­ply right above so that can prove interesting. 

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• MN-C‑S 1.97300
• W1-C‑S 1.95442
• D1-C‑S 1.92964

ZOIs for Pos­si­ble Long

• H4-C‑D 1.92350
• W1-C‑D 1.90000
• MN-C‑D 1.89719

Focus Points for trad­ing development

• Month­ly Goals
  • Don’t trade Non-Farm Fridays
  • Con­tin­ue track­ing my DRC track­ing sheet
  • Focus on my own progress and less on others
  • Take a break from cer­tain com­po­nents of social media
  • Feel­ing okay with NOT trading
  • Have ‘qui­eter’ weekends
• Week­ly Goal
  • Min. 3 times hit­ting the gym + manda­to­ry cardio
• Trad­ing Rules
  • Trade from D and upwards unless a pos­si­ble momen­tum trade, val­ue accep­tance or otherwise. 
• Risk Man­age­ment
  • 3 trades 1% risk, 3rd trade only if first 2 worked out
  • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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