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20211022 Premarket Prep DAX - Bear Market Trader
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20211022 Premarket Prep DAX

20211022 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 still trad­ing with­in last week’s body with a poten­tial devel­op­ing buy­ing tail rac­ing off W1 demand
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • Weak D1 Three Out­side Down with long buy­ing wick trad­ing below D1 QHi
    • H4 Bull Engulf clos­ing with­in H4 QHi
    • Poten­tial H4 Phase 1 / 3
  • Trend: H4 Up, D1 Down, W1 Up
    • Pre­vail­ing trend: MIXED Trend
  • Mar­ket Profile
    • 5‑day brack­et­ing range, last two days have wider values
  • Dai­ly Range
    • ADR: 14221
    • ASR: 11985
      • 2996
    • ASR Short: 10218
      • 2555
    • Day
      • Yes­ter­day’s High 15532.30
      • Yes­ter­day’s Low 15397.70

Sen­ti­ment

  • LN open
    • Open With­in Value
  • Open dis­tance to value
    • N.A.
  • Nar­ra­tive
    • Bal­anc­ing Mar­ket. Mul­ti-day brack­et. Pre­mar­ket took out D1 Sup­ply. IBR tra­versed high­er 0.89xASR indi­cat­ing pos­si­ble fur­ther respon­sive activ­i­ty. Price still trad­ing at H4/D1 QHi and test­ed D1 Sup­ply and start­ed reacting. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Weak­ness From With­in IBR
  • Hypo 2
    • Failed Auc­tion Short
  • Hypo 3
    • Sus­tained Auc­tion Down
  • Hypo 4
    • Strength From With­in IBR

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • D1-C‑S 15588.27
  • MN-C‑S 15561.74

ZOIs for Pos­si­ble Long

  • W1-C‑D 15290.73

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) 
    • No ear­ly exits, either hit SL or 2R target
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • Process
    • Keep trade review com­ments short
  • 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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