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20210831 Premarket Prep DAX - Bear Market Trader
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20210831 Premarket Prep DAX

20210831 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 week’s Inside Bar with­in W1 Supply
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • Price trad­ed and closed high­er fol­low­ing the D1 Bull Engulf clos­ing with­in D1 Supply
    • H4 Bear Engulf formed at old H4 sup­ply clos­ing above new­ly formed H4-C‑D 15856.49
  • Trend: H4 Down, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 2/3
  • Mar­ket Profile
    • Val­ue cre­at­ed above the 2 over­lap­ping val­ues but still with­in over­all range
  • Dai­ly Range
    • ADR: 10986
    • ASR: 10016
      • 2500
    • Day
      • Yes­ter­day’s High 15904.60
      • Yes­ter­day’s Low 15814.00

Sen­ti­ment

  • LN open
    • Above Val­ue, Out­side Range
  • Open dis­tance to value
    • 0.41xASR
  • Nar­ra­tive
    • Mod­er­ate to Large Imbal­ance. Gap up. Dur­ing Asia price took out D1 Sup­ply but is run­ning into anoth­er D1 sup­ply. Poten­tial for a uni­di­rec­tion­al day per­haps. H4 bull engulf giv­ing H4-C‑D 15893.22 right at VAH. Pre­mar­ket turned trend up 3/3. IB tra­versed 0.59xASR exhaust­ing ADR to the upside trad­ing with­in H4 QHi. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Mean Rever­sion, sus­tained auc­tion down, poten­tial­ly entry off weak­ness from with­in IBR, per­haps even a Failed Auc­tion like yesterday 
  • Hypo 2
    • Return to Val­ue, Auc­tion Fade Long, vari­a­tion to Hypo 1
  • Hypo 3
    • Strength from with­in IBR to sus­tained auc­tion up
  • Hypo 4
    • Auc­tion Fade Short, vari­a­tion to Hypo 3

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

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

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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