20210804 Premarket Prep DAX - Bear Market Trader
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20210804 Premarket Prep DAX

20210804 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

Com­pared against Week­ly Trad­ing Plan

  • Price ducked below last week’s body but is cur­rent­ly trad­ing with­in the body
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 Bull­ish Inside Bar clos­ing with­in D1 Sup­ply not hav­ing bro­ken the con­sol­i­da­tion (yet)
    • H4 Con­sol­i­da­tion below H4 QHi trad­ing with­in H4 supply
    • Price trad­ing with­in D1 QHi
  • Trend: H4 Up, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is up 3/3
  • Mar­ket Profile
    • Flim­sy 3‑day brack­et indi­cat­ing slow-down continued
  • Dai­ly Range
    • ADR: 14047
    • ASR: 12181
      • 3045
    • Day
      • Yes­ter­day’s High 15606.50
      • Yes­ter­day’s Low 15492.50


  • LN open
    • Above Val­ue, Out­side Range
  • Open dis­tance to value
    • 0.20xASR
  • Nar­ra­tive
    • Mod­er­ate to large imbal­ance due to open out­side range but still quite near to VAH. Trend is up 3/3. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Return to Val­ue, Failed Auc­tion Long
  • Hypo 2
    • Val­ue Accep­tance Short
  • Hypo 3
    •  Uni­di­rec­tion­al day. Asia trad­ed high­er, if Lon­don can trade high­er exhaust­ing ADR. Vari­a­tion to Hypo 1. Risky due to Neu­tral Day. 
  • Hypo 4
    • Auc­tion Fade Long, vari­a­tion to Hypo 2

Addi­tion­al notes

  • Cap­i­tal Preser­va­tion Rule in effect

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • W1-C‑S 15654.79
  • H4-C‑S 15627.02

ZOIs for Pos­si­ble Long

  • D1-C‑D 15547.73

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 Racing Enthusiast.

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