10 Apr GBPNZD Week 15 Trading Plan
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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 — Slightly Bullish
- MN-C‑S 1.97316 reactive with a near 50% retracement of last month’s candle
- Mid MN swing
Weekly — Bearish
- W1 Three Outside Down with little buying wick created reacting off MN-C‑S 1.97316 giving W1-D1-C‑S 1.96852
- No arrival at W1-C‑D 1.93978
- Mid W1 swing
Daily — Bearish
- D1 Phase 3 transition to 4 through D1 DBD with Friday closing as an Inside Bar with longer selling wick
- Price broke below VWAP in UT
Sentiment summary — Slightly Bearish
- After reaching a Monthly supply price started reacting and printed a W1 Three Outside Down. The Month is not yet over and price is nearing a W1 demand level which could be in line with the still somewhat bullish sentiment on the Monthly as last month did close near its high. Bearish short term unless price can create a good demand and reversal pattern on medium to higher timeframe.
Additional notes
- N.A.
ZOIs for Possible Shorts
- W1-C‑S 2.00110
- MN-C‑S 1.97316
- W1-D1-C‑S 1.96852
- D1-C‑S 1.95933 BASE
ZOIs for Possible Long
- D1-C‑D 1.96720
- W1-C‑D 1.93978
- D1-C‑D 1.93581
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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