GBPNZD Week 14 Trading Plan

06 Apr GBPNZD Week 14 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

• Con­tin­u­a­tion high­er from MN-C‑D 1.89646 reach­ing MN-C‑S 1.97316 with only a slight reaction.
• Mid MN swing

Week­ly — Slight­ly Bullish

• Moved high­er through RBR giv­ing demand at W1-C‑D 1.93978
• Cre­at­ed a neu­tral Inside Bar at MN-C‑S 1.97316 not yet hav­ing reached W1-C‑S 2.00110
• Mid W1 swing

Dai­ly — Neutral

• D1 Three Out­side Down with no con­tin­u­a­tion with D1-C‑D 1.96720 still holding. 
• D1-C‑S 1.98127 (and D1 QHi) been test­ed twice
• Pos­si­ble begin­ning of Phase 3

Sen­ti­ment sum­ma­ry — Neutral

•  Price hit and closed almost on its high on the Month­ly indi­cat­ing a poten­tial for more upside. Although this upside would be trad­ing direct­ly into a Month­ly sup­ply zone. A week­ly sup­ply has not yet been hit so this could be the rever­sal point if price does decide to push a lit­tle high­er. D1 is show­ing pos­si­ble signs of the start of a Phase 3 in line with a pos­si­ble rever­sal around these levels. 

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• W1-C‑S 2.00110
• D1-C‑S 1.98127
• MN-C‑S 1.97316

ZOIs for Pos­si­ble Long

• D1-C‑D 1.96720
• W1-C‑D 1.93978
• MN-C‑D 1.89646

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Feel­ing okay with NOT trading
  • Have ‘qui­eter’ weekends
• Week­ly Goal
  • Min. 3 times hit­ting the gym + manda­to­ry cardio
  • Only trade the main account
  • Be mind­ful of DTTZs
  • Only price-action based exit rules (or hit time stop)
  • M15/M30 com­bi­na­tion at 1st DTTZ, M5 entries and exits at 2nd DTTZ
• 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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