#premarketprep #tradingforex #forex #FX #daytrading #tradinglifestyle #daytraderlife #GBPNZD
This is my premarket prep for today’s European session for the Forex pair GBPNZD. This prep builds off of my weekly trade plan I made here:
The purpose of a premarket prep is to find setups within my weekly trade plan bias.
Non-conjecture observations of the market
- D1 supply formed same c‑line as H4-C‑S 1.99926 and price is still trading within
- H4 doji formed after (consolidation and move up) but no confirmation on direction yet now shares demand c‑line with H4-C‑S 1.99926
- Market Profile
- ADR 1316
- ASR 1013
- Max 21 long
- Max 30 short
- Price currently trading within value
Compared against Weekly Trading Plan
- Mid MN, W1, and D1 swing
- W1 closed above VWAP, current candle within last week’s body
- H4, D1 trend is up, W1 is down
Sentiment — Neutral
- Price is currently within value and showing lots of lower time frame SD ZOIs on either side and ADR 0.5 and exhaustion laying further outside of value
- Best to stay out unless there is a confluence around the levels of ADR
Additional notes
- N.A.
ZOIs for Possible Shorts
- H4-C‑S 2.01138
- H4-C‑S 1.99926
ZOIs for Possible Long
- H4-C‑D 1.99926
- H4-C‑D 1.99557
Mindful Trading
- Slept very light. Took a nap.
Focus Points for trading development
- Weekly Goal
- Align with market narrative
- Taking a trade is not a priority
- Risk Management
- 3 trades 1% risk
- 2 consecutive days of lack of sleep = NO TRADING