20211026 Premarket Prep DAX - Bear Market Trader
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20211026 Premarket Prep DAX

20211026 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

  • Last week closed as a pos­si­ble Base at a pre­vi­ous W1 Sup­ply Base lev­el but with near­by MN C‑sup
  • Price is trad­ing above last week’s body and made a HH
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 Sup­ply tak­en out through RBR no arrival at D1-C‑S 15695.85
    • H4 Phase 2 trad­ing with­in H4 QHI (wide)
  • Trend: H4 Up, D1 Down, W1 Up
    • Pre­vail­ing trend: MIXED Trend
  • Mar­ket Profile
    • 2 over­lap­ping val­ues above the pre­vi­ous brack­et­ing range with price trad­ing above value
  • Dai­ly Range
    • ADR: 12667
    • ASR: 12048
      • 3000
    • ASR Short: 10275
      • 2600
    • Day
      • Yes­ter­day’s High 15650.70
      • Yes­ter­day’s Low 15522.90


  • LN open
    • Above Val­ue, Out­side Range
  • Open dis­tance to value
    • 0.48xASR
  • Nar­ra­tive
    • Mod­er­ate to Large Imbal­ance. IBR tra­versed 0.77xASR indi­cat­ing pos­si­ble respon­sive activ­i­ty. Price is trac­ing at D1 UKC in DT with­in D1 Sup­ply and has just exhaust­ed ADR. Yes­ter­day trad­ed high­er clos­ing at 1.02xADR indi­cat­ing pos­si­ble strength behind the move. Trend turned from a mixed trend to a strong uptrend 3/3. Price could poten­tial­ly take out D1 Sup­ply and then fal­ter and roll over. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Strength From With­in IBR
  • Hypo 2
    • Sus­tained Auc­tion Up, risky due to open sen­ti­ment and wide IBR, pos­si­ble late-sus­tained auc­tion entry
  • Hypo 3
    • Auc­tion Fade Short, vari­a­tion to Hypo 2, more preferred
  • Hypo 4
    • Failed Auc­tion Short

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • D1-C‑S 15695.85
  • MN-C‑S 15561.74

ZOIs for Pos­si­ble Long

  • D1-C‑D 15499.30
  • 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


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