Premarket Prep GBPNZD 09212020 - Bear Market Trader
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Premarket Prep GBPNZD 09212020

21 Sep Premarket Prep GBPNZD 09212020

Posted at 08:59h in GBPNZD, Trading Plan by
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#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:

GBPNZD Week 38 Trad­ing Plan

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Week­ly goal

  • For­mu­late hypos in order of like­li­hood and track with actu­al devel­op­ment on the day

Non-con­jec­ture obser­va­tions of the market

  • H4 Bull Engulf at D1 C‑Dem
  • Pos­si­ble H4 phase 1
  • Mar­ket Profile
    • Pro­files Brack­et­ing but price closed below brack­et­ing range
    • ADR: 1520
    • ASR: 1397
      • 35
    • Day
      • Yes­ter­day’s High 1.91948
      • Yes­ter­day’s Low 1.90623
      • Price below yesterday’s low

Com­pared against Week­ly Trad­ing Plan

  • Back trad­ing with­in W1 Demand

Sen­ti­ment

  • Loca­tions
    • H4-C‑D 1.91053 below val­ue with­in range
    • ADR 0.5 just below Friday’s low
    • ADR 0.5 High at D1-C‑S 1.91979 and Friday’s high
  • Sen­ti­ment
    • LN open
      • With­in value
    • Open dis­tance to value
      • N.A.
    • Sen­ti­ment
      • Respon­sive activity. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1 — Respon­sive activity
  • Hypo 2 — Short 
    • Fake out to ADR 0.5 high and rever­sal (at D1-C‑S 1.91979 and LTF supply)
    • IB exten­sion, price action con­fir­ma­tion rever­sal, failed auction
  • Hypo 3 — Long
    • Fake out to ADR 0.5 Low and rever­sal (LTF Demand)
    • IB exten­sion, price action con­fir­ma­tion rever­sal, failed auction

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1.91979

ZOIs for Pos­si­ble Long

  • D1-C‑D 1.91303
  • H4-C‑D 1.91053

Mind­ful Trading

  • Feel­ing okay

Focus Points for trad­ing development

  • Week­ly Goal
    • For­mu­late hypos in order of like­li­hood and track with actu­al devel­op­ment on the day
    • Incor­po­rate pro­file day type
  • Trad­ing Rules
    • If Open out­side of val­ue con­sid­er the place­ment in rela­tion to ADR 
  • Risk Man­age­ment
    • 3 trades 1% risk, 3rd trade only if first 2 worked out
    • OK to take 1R when in DD
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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