20211103 Premarket Prep DAX - Bear Market Trader
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20211103 Premarket Prep DAX

20211103 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 above last month’s body and range
  • Price trad­ing above last week’s body and range trad­ing with­in W1 Supply
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • Yes­ter­day took out D1 Sup­ply although still a lit­tle to go to take out MN/W1 Supply
    • Yes­ter­day exceed­ed ADR by 1.5
    • H4 phase 2 with some slow­down at D1 supply
  • Trend: H4 Up, D1 Up, W1 Up
    • Pre­vail­ing trend: Strong Uptrend 3/3
  • Mar­ket Profile
    • Val­ue in UT
  • Dai­ly Range
    • ADR: 12744
    • ASR: 11694
      • 2924
    • ASR Short: 10832
      • 2708
    • Day
      • Yes­ter­day’s High 15962.80
      • Yes­ter­day’s Low 15720.20


  • LN open
    • Above Val­ue, With­in Range
  • Open dis­tance to value
    • 0.34xASR
  • Nar­ra­tive
    • Mod­er­ate Imbal­ance. Open sen­ti­ment as well as strong uptrend sug­gests a pos­si­ble con­tin­u­a­tion high­er. Although open right at D1-C‑S 15965.47 and yesterday’s price tra­versed 1.5xADR so there could be a pull­back first. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Return to Val­ue, Val­ue Edge rever­sal, pos­si­ble Failed Auc­tion Long
  • Hypo 2
    • Sus­tained Auc­tion Up
  • Hypo 3
    • Val­ue Acceptance
  • Hypo 4
    • Auc­tion Fade Long, vari­a­tion to Hypo 3

Addi­tion­al notes

  • Tomor­row Fed Inter­est Rate Deci­sion, non-farm on Friday

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • D1-C‑S 15965.47
  • W1-C‑S 15823.56

ZOIs for Pos­si­ble Long

  • D1-C‑D 15697.65
  • W1-C‑D 15590.83

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


Day trader. Tech geek. Sim Racing Enthusiast.

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