20210805 Premarket Prep DAX - Bear Market Trader
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20210805 Premarket Prep DAX

20210805 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 is trad­ing above last months Drag­on­fly Doji
  • Price is trad­ing above last week’s body and range
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 Three Out­side Up trad­ing with­in W1 supply
    • H4 con­sol­i­da­tion after move high­er giv­ing a large demand and lit­tle supply
  • Trend: H4 Up, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 3/3
  • Mar­ket Profile
    • Val­ue was cre­at­ed above the brack­et­ing range although still with­in over­all range
  • Dai­ly Range
    • ADR: 14098
    • ASR: 11293
      • 2823
    • Day
      • Yes­ter­day’s High 15713.40
      • Yes­ter­day’s Low 15552.00


  • LN open
    • With­in Value
  • Open dis­tance to value
    • N.A.
  • Nar­ra­tive
    • Bal­anc­ing Mar­ket. Open with­in sug­gests some bal­anc­ing but IB trad­ed above VAH so if there is a break of IB up there could be a sus­tained auc­tion in line with a fol­low-through on the D1 Three Out­side Up. How­ev­er, yes­ter­day trad­ed 1.13xADR so there could be a retrace­ment of yesterday’s move which would be against the larg­er time­frame sen­ti­ment. Trend is up 3/3
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Sus­tained Auc­tion up, Val­ue Rejec­tion Up, tricky due to open with­in, pos­si­ble pull­back or weak­ness from with­in IBR
  • Hypo 2
    • Auc­tion Fade Short, Vari­a­tion to Hypo 1, near­by D1 Supply
  • Hypo 3
    • Sus­tained Auc­tion Short
  • Hypo 4
    • Failed Auc­tion Short, near­by ADR 0.5, 

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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