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20211110 Premarket Prep DAX - Bear Market Trader
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20211110 Premarket Prep DAX

20211110 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 week’s body but with­in range after hav­ing made a HH
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • Yes­ter­day closed as a Grave­stone Doji after hav­ing made a HH but then pro­ceed­ed to make a slight LL clear­ing both sup­ply and demand
    • H4 Bull Engulf formed after demand got tak­en out
    • Pos­si­ble H4 Phase 1 / 3
  • Trend: H4 Up, D1 Up, W1 Up
    • Pre­vail­ing trend: Strong uptrend 3/3
  • Mar­ket Profile
    • Val­ue cre­at­ed above the pre­vi­ous 3‑day over­lap­ping range
  • Dai­ly Range
    • ADR: 9530
    • ASR: 9414
      • 2354
    • ASR Short: 8322
      • 2081
    • Day
      • Yes­ter­day’s High 16105.40
      • Yes­ter­day’s Low 15993.10

Sen­ti­ment

  • LN open
    • Below Val­ue, With­in Range
  • Open dis­tance to value
    • 0.23xASR
  • Nar­ra­tive
    • Mod­er­ate Imbal­ance. Yes­ter­day exceed­ed ADR by 1.21. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • VAL Rever­sal
  • Hypo 2
    • Val­ue Accep­tance and pos­si­ble con­tin­u­a­tion through sus­tained auc­tion up
  • Hypo 3
    • Failed Auc­tion Long
  • Hypo 4
    • Sus­tained Auc­tion Down
  • Hypo 5
    • Auc­tion Fade Long

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • H4-C‑S 16054.30

ZOIs for Pos­si­ble Long

  • H4-C‑D 16011.71
  • H4-C‑D 15951.29 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) 
    • 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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