20210706 Premarket Prep DAX - Bear Market Trader
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20210706 Premarket Prep DAX

20210706 Premarket Prep DAX

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #index #indices #DAX #DE30Cash

This is my pre­mar­ket prep for today’s Euro­pean ses­sion for DAX. 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

Click to Enlarge

Com­pared against Week­ly Trad­ing Plan

  • Price trad­ing with­in last week’s body

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • Yes­ter­day closed trad­ing slight­ly high­er leav­ing a long buy­ing wick
    • Pos­si­ble D1 Phase 1 / 3
    • H4 con­sol­i­dat­ed below W1 sup­ply and closed low­er with slight reac­tion off H4-C‑D 15631.58
  • Trend: H4 Down, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP
  • Mar­ket Profile
    • Mul­ti-day brack­et with yesterday’s val­ue being wider
  • Dai­ly Range
    • ADR: 14441
    • ASR: 15176
      • 3794
    • Day
      • Yes­ter­day’s High 15673.80
      • Yes­ter­day’s Low 15531.30


  • LN open
    • Open with­in value
  • Open dis­tance to value
    • N.A. 
  • Nar­ra­tive
    • Bal­anc­ing Mar­ket. Mul­ti-day brack­et. FF ambigu­ous. H4 Evening Star formed with longer buy­ing wick cur­rent­ly trad­ing with­in Demand. Pos­si­ble D1 Phase 1 / 3 and mul­ti-day brack­et there is no clear direc­tion­al cue. 
  • Clar­i­ty (1–5, 5 being best)
    • 2
  • Hypo 1
    • Failed Auc­tion Long, probe below value
  • Hypo 2
    • Failed Auc­tion Short, probe above value
  • Hypo 3 (less likely)
    • Sus­tained Auc­tion Short, if there is a close below VAL coin­cid­ing with IB exten­sion, late-sus­tained auc­tion preferred 
  • Hypo 4 (even less likely)
    • Sus­tained Auc­tion Long

Addi­tion­al notes

  • Cap­i­tal Preser­va­tion Rule in effect

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • D1-C‑S 15732.18
  • W1-C‑S 15677.71

ZOIs for Pos­si­ble Long

  • H4-C‑D 15631.58
  • D1-C‑D 15606.96

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 13 trades by the end of the month
  • Week­ly Goal
    • Min. 3 times work­ing out at home + manda­to­ry cardio
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • Risk Man­age­ment
    • With­out forc­ing a trade: aim to take 1 trade a day, if pos­si­ble 2. 
    • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING


Day trader. Tech geek. Sim racer/Pilot.

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