20211004 Premarket Prep DAX - Bear Market Trader
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20211004 Premarket Prep DAX

20211004 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 below last week’s body but still with­in range
  • Price trad­ing below last month’s body and made a slight LL
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • Slight move high­er from D1 QLo
    • H4 Bear Engulf (giv­ing H4-C‑S 15239.72) at H4 VWAP in DT (mid swing after H4 QLo rejec­tion) price return­ing to H4 QLo / D1-C‑D 15125.15 hit­ting a H4 base demand lev­el as well
  • Trend: H4 Down, D1 Down, W1 Up
    • Pre­vail­ing trend: Trend is DOWN 2/3
  • Mar­ket Profile
    • Wide val­ue formed below 3‑day brack­et­ing range
  • Dai­ly Range
    • ADR: 21861
    • ASR: 16809
      • 4200
    • Day
      • Yes­ter­day’s High 15295.50
      • Yes­ter­day’s Low 14980.80


  • LN open
    • Open With­in Value
  • Open dis­tance to value
    • N.A.
  • Nar­ra­tive
    • Bal­anc­ing Mar­ket. Price fol­lowed-through in pre­mar­ket trad­ing down into Demand, H4 QLo. IB exhaust­ed ADR. Pos­si­bil­i­ty for a uni­di­rec­tion­al day. Due to the exten­sion up I am more inclined for a pos­si­ble Devel­op­ing H4 Base in line with the move as well as trend being down. Shorts are more favored. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Rever­sal, Sus­tained Auc­tion Up, Risky due to open sen­ti­ment, H4 QLo, demand, Asia trad­ed lower
  • Hypo 2
    • Failed Auc­tion Short
  • Hypo 3
    • Pos­si­ble 3–1 Day (due to open sen­ti­ment), Neu­tral Day extend­ing longer to the oppo­site side, pos­si­bil­i­ty for an auc­tion fade long.

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • H4-C‑S 15239.72

ZOIs for Pos­si­ble Long

  • D1-C‑D 15125.15
  • H4-C‑D 15025.84 (old)

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

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


Day trader. Tech geek. Sim Racing Enthusiast.

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