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20210927 Premarket Prep DAX - Bear Market Trader
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20210927 Premarket Prep DAX

20210927 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 body and has made a HH above its range
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • Price trad­ing with­in the D1 Bear­ish Inside Bar and extend­ed higher
    • H4 show­ing some momen­tum cur­rent­ly trad­ing at D1 QHi with­in H4 QHi
  • Trend: H4 Down, D1 Down, W1 Up
    • Pre­vail­ing trend: Trend is Down 2/3
  • Mar­ket Profile
    • Val­ue was cre­at­ed below the pre­vi­ous with price cur­renl­ty trad­ing above value
  • Dai­ly Range
    • ADR: 20311
    • ASR: 13948
      • 3487
    • Day
      • Yes­ter­day’s High 15706.47
      • Yes­ter­day’s Low  15493.08

Sen­ti­ment

  • LN open
    • Above Val­ue, Out­side Range
  • Open dis­tance to value
    • 1.11xASR
  • Nar­ra­tive
    • Large Imbal­ance. Price is trad­ing at D1 sup­ply and D1 QHi with a large imbal­ance at the open there could be a mean rever­sion first before extend­ing high­er. Trend is DOWN 2/3. Although H4 has shown strength in its rally. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Mean Rever­sion, sus­tained auc­tion down
  • Hypo 2
    • Failed Auc­tion long, IBR not that wide
  • Hypo 3
    • Auc­tion Fade Long, vari­a­tion to Hypo 1

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • D1-C‑S 15696.82

ZOIs for Pos­si­ble Long

  • H4-C‑D 15535.72
  • D1-C‑D 15125.15

Mind­ful Trad­ing (lack of sleep?)

  • Not the sharpest. Tak­ing it easy today. 

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 20 trades by the end of the month, prefer­ably 2 a day (not in the same prod­uct at the same time) 
  • Week­ly Goal
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
    • No ear­ly exits, either hit SL or 2R target
  • Risk Man­age­ment
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

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