GBPNZD Week 13 Trading Plan

27 Mar GBPNZD Week 13 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. 

Month­ly — Slight­ly Bullish

• Slight con­tin­u­a­tion trad­ed high­er away from MN-C‑D 1.89719 although clos­ing with a sell­ing wick (buy­ing wick slight­ly longer) indi­cat­ing some sell­ers are still present
• Price arrived at MN-C‑S 1.97300 after hit­ting BASE level. 

Week­ly — Slight­ly Bullish

• Price trad­ing and closed deep with­in W1-C‑S 1.95321 (but did not take out) as a RBR with a large move

Dai­ly — Slight­ly Bearish

• Bear­ish Inside Bar formed at MN-C‑S 1.97300 with­in D1-C‑S 1.96738 (after a some­what clean arrival) but has not retraced back to D1-C‑D 1.96432 BASE level

Sen­ti­ment sum­ma­ry — Neutral

•  Due to hit­ting larg­er time frame sup­ply lev­els and D1 form­ing a poten­tial rever­sal pat­tern could be in the mak­ing if Mon­day con­tin­ues fur­ther down. If it hits the D1 base lev­el there could be a con­tin­u­a­tion to the move return­ing to orig­i­nat­ing level. 

Addi­tion­al notes

• Last few days of the month

ZOIs for Pos­si­ble Shorts

• MN-C‑S 1.97300
• D1-C‑S 1.96738

ZOIs for Pos­si­ble Long

• D1-C‑D 1.96432 BASE

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on 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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