20210817 Premarket Prep DAX - Bear Market Trader
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20210817 Premarket Prep DAX

20210817 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 with­in last week’s body
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • Weak D1 Three Inside Down with long buy­ing wick giv­ing D1-C‑S 15966.51
    • H4 con­sol­i­da­tion and Bull Engulf fin­ish­er giv­ing demand, with no con­tin­u­a­tion high­er. Instead a H4 Evening Star with follow-through.
  • Trend: H4 Up, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 3/3
  • Mar­ket Profile
    • Val­ue was cre­at­ed below the pre­vi­ous (top of UT)
  • Dai­ly Range
    • ADR: 10678
    • ASR: 9618
      • 2405
    • Day
      • Yes­ter­day’s High 15970.30
      • Yes­ter­day’s Low 15847.90


  • LN open
    • Below Val­ue, With­in Range
  • Open dis­tance to value
    • 0.13xASR
  • Nar­ra­tive
    • Mod­er­ate Bal­ance. After a big uptrend tak­ing out larg­er time­frame sup­ply, price has been sell­ing off. Open sen­ti­ment is below val­ue but with­in range so a val­ue accep­tance is pos­si­ble as trend is still up 2/3. Although Asia trad­ed down and IB exhaust­ed ADR to the downside. 
  • Clar­i­ty (1–5, 5 being best)
    • 5
  • Hypo 1
    • Val­ue Accep­tance, sus­tained auc­tion long
  • Hypo 2
    •  Return to val­ue, val­ue edge rever­sal or per­haps a Failed Auc­tion prob­ing value
  • Hypo 3
    • Auc­tion Fade Short, vari­a­tion to Hypo 1
  • Hypo 4
    • Auc­tion Fade Long, vari­a­tion to Hypo 2 if there is a con­tin­u­a­tion to the Asia move

Addi­tion­al notes

  • Cap­i­tal Preser­va­tion Rule in effect

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • D1-C‑S 15964.09

ZOIs for Pos­si­ble Long

  • D1-C‑D 15756.47

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


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