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20210824 Premarket Prep DAX - Bear Market Trader
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20210824 Premarket Prep DAX

20210824 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 trad­ing with­in last week’s body and W1 Supply
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 RBR at D1-C‑D 15824.94 after D1-C‑S 15887.25 BASE was reached
    • H4 RBR with price trad­ing at H4 Sup­ply cre­at­ed at D1 Sup­ply Base lev­el that was cre­at­ed through a H4 Bear Engulf at H4 QHi
  • Trend: H4 Down, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 2/3
  • Mar­ket Profile
    • Val­ue was cre­at­ed above the 2‑day over­lap­ping values
  • Dai­ly Range
    • ADR: 13277
    • ASR: 11815
      • 3000
    • Day
      • Yes­ter­day’s High 15938.90
      • Yes­ter­day’s Low 15797.90

Sen­ti­ment

  • LN open
    • Above Val­ue, With­in Range
  • Open dis­tance to value
    • 0.54xASR
  • Nar­ra­tive
    • Mod­er­ate Imbal­ance. Open above, with­in range. Larg­er time­frame nar­ra­tive trumps the H4 QHi rejec­tion. Pre­mar­ket closed deep­er into H4 sup­ply test­ing H4 QHi again.
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Return to Val­ue, Rever­sal with­in IBR at LTF demand oth­er­wise a Failed Auc­tion Long
  • Hypo 2
    • Val­ue Accep­tance, prob­a­bly a fake out in line with Hypo 1 due to opens entiment
  • Hypo 3
    • Auc­tion Fade Short, vari­a­tion to Hypo 1
  • Hypo 4
    • Auc­tion Fade Long, vari­a­tion to Hypo 3

Addi­tion­al notes

  • Cap­i­tal Preser­va­tion Rule in effect

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • D1-C‑S 15966.51
  • D1-C‑S 15887.25 BASE

ZOIs for Pos­si­ble Long

  • D1-C‑D 15824.94
  • W1-C‑D 15660.10

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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

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