Execution Plan 1: Scan Weekly News
Objective: Identify macroeconomic catalysts that drive price for the week.
Sources:
- ForexFactory.com
- Investing.com (Economic Calendar)
- Central bank websites
Steps:
1. Look for high-impact news (Interest Rates, CPI, NFP).
2. Write down forecast vs previous values.
3. Determine which currencies may strengthen or weaken.
Outcome: A clear weekly directional bias for each currency or asset.
Execution Plan 2: Set Bias Table
Objective: Score each currency/asset based on strength or weakness.
Example Table:
| Asset | Score | Bias |
|-------|-------|----------|
| USD | +3 | Strong |
| EUR | -1 | Weak |
| XAU | +2 | Bullish |
Sources: Your macro analysis (Step 1). Use weekly sentiment reports (e.g., DailyFX, Bloomberg).
Execution Plan 3: Analyze BOS/CHoCH
Objective: Spot market structure changes on 4H/Daily charts.
Tools:
- TradingView (Free)
- MT5 or MT4
Checklist:
- BOS = price breaks a higher high/lower low (trend continuation).
- CHoCH = price breaks the opposite swing (trend reversal).
Tip: Use horizontal lines to mark key swing points.
Execution Plan 4: Mark OBs and FVGs
Objective: Define potential entry zones based on institutional footprints.
Steps:
1. Locate last bullish candle before drop (OB) or bearish candle before rally.
2. Mark zone body + wick.
3. Spot 3-candle FVG gaps and draw zone.
Confluence of OB + FVG = sniper entry.
Tip: Use the 'Rectangle' tool in TradingView to mark zones clearly.
Execution Plan 5: Draw Key Trendlines
Objective: Identify liquidity trap levels where trendline traders get stopped out.
Steps:
1. Connect 3 swing highs/lows (1H to 4H charts).
2. Wait for sweep and rejection near OB/FVG.
Tip: Combine trendline sweep with OB rejection for high probability trades.
Tools: TradingView or MT5 (Trendline Drawing Tool).
Execution Plan 6: Wait for Liquidity Sweep
Objective: Detect where price spikes past trendlines to grab liquidity.
Steps:
1. Mark previous highs/lows near trendline.
2. Look for fake breakouts.
3. Confirm wick rejection inside OB/FVG zone.
Confluence: Macro bias + liquidity sweep + OB = High probability entry.
Source: Charts + Price Action Only.
Execution Plan 7: Enter at OB/FVG + Confirm
Objective: Execute a trade only when the zone holds.
Entry Candlestick Confirmation:
- Bullish/Bearish Engulfing
- Rejection Pin Bar
- Inside Bar Breakout
Stop Loss: Below/above the OB wick or FVG base
Take Profit: Based on previous structure levels
Risk: Use 1-2% equity per trade (manually calculated).
Execution Plan 8: Hedge if Needed
Objective: Reduce net loss using correlated/inverse pairs.
Example:
- Long EUR/USD + Short USD/CHF (inverse correlation)
- Long Gold + Short Silver
Use:
- Correlation Matrix (MyFXBook or Mataf.net)
- Past price patterns from TradingView
Execution Plan 9: Scale In or Out
Objective: Maximize profits and reduce risk dynamically.
Steps:
1. Scale in after 100-150 pip move if trend continues.
2. Scale out partially at each 1:3 RR achieved.
Tip: Only add to winners. Never scale losing trades.
Tools: Manual pip log or your Colab tool (in development).
Execution Plan 10: Journal Your Trades
Objective: Track performance and improve decision-making.
Include:
- Trade entry chart screenshot
- Entry/Exit price, Bias, OB/FVG zone, Outcome
Tool: Google Sheets, Excel, Notion, or your printed Trade Log Book
This is the secret weapon of consistent traders. No excuses - journal every trade.
