20211117 Premarket Prep DAX - Bear Market Trader
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20211117 Premarket Prep DAX

20211117 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 and range hav­ing made a HH

Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 closed high­er tra­vers­ing 1.68xADR
    • H4 Evening star with no fol­low-through. Instead a Bull Engulf in premarket. 
  • Trend: H4 Up, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 3/3
  • Mar­ket Profile
    • Wider val­ue cre­at­ed above the brack­et­ing range
  • Dai­ly Range
    • ADR: 8944
    • ASR: 7321
      • 1830
    • ASR Short: 6546
      • 1637
    • Day
      • Yes­ter­day’s High 16266.20
      • Yes­ter­day’s Low 16116.30


  • LN open
    • Above Val­ue, Out­side Range
  • Open dis­tance to value
    • 0.20xASR
  • Nar­ra­tive
    • Mod­er­ate to Large Imbal­ance. Asia extend­ed to the down­side. ADR exhaus­tion is not far above IB. IB took out some sup­ply. Prev. Day exceed­ed ADR by 1.68. ASR too tight though. New H4 demand formed but it’s high in the dis­tri­b­u­tion curve at H4-C‑D 16246.10 high in dis­tr. curve.
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Rever­sal Short, ADR exhaus­tion or near­by, pos­si­ble Failed Auction
  • Hypo 2
    • Val­ue Acceptance
  • Hypo 3
    • Strength From With­in IBR
  • Hypo 4
    • Sus­tained Auc­tion Long

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • Not favored in equities

ZOIs for Pos­si­ble Long

  • H4-C‑D 16246.10 high in dis­tr. curve
  • H4-C‑D 16135.25 BASE
  • D1-C‑D 16103.10

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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