GBPNZD Week 17 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

• Cur­rent­ly price has retraced, react­ing off MN-C‑S 1.97330, to last month’s body low but still with­in range

Week­ly — Slight­ly Bearish

• W1 Phase 4 although near­ing W1 VWAP in DT BO to CAS coin­cid­ing with W1-C‑D 1.92120 could be an ear­li­er speed­bum instead of a BASE level

Dai­ly — Slight­ly Bearish

• D1 Three Inside Down giv­ing D1-C‑S 1.94300 (coin­cid­ing with D1 VWAP CAR) after react­ing off D1-C‑S 1.94900 with arrival at D1-C‑D 1.92900 (cre­at­ed through Bull Engulf cre­at­ing demand above D1 QLo through DBD, but since has been test­ed mul­ti­ple times) 

Sen­ti­ment sum­ma­ry — Neutral

• Because there is no Bear­ish close on the month­ly there could still be a bounce off W1/D1 lev­els for the month to close as an inside bar with longer buy­ing wick. W1 and D1 show a bear­ish sen­ti­ment though so there be a con­tin­u­a­tion down. A bit more con­jec­ture  in spec­u­la­tion than I nor­mal­ly do, though which means I am more neu­tral than any­thing. Also Neu­tral hav­ing arrived at D1/W1 demand lev­el (although D1 demand has been test­ed mul­ti­plte times) so unless we can take those out there could be a bounce higher.

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• D1-C‑S 1.94900
• D1-C‑S 1.94300

ZOIs for Pos­si­ble Long

• D1-C‑D 1.92900
• W1-C‑D 1.92120

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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