20211123 Premarket Prep DAX - Bear Market Trader
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20211123 Premarket Prep DAX

20211123 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

  • Pos­si­ble devel­op­ing MN Three Out­side Up
  • Last week closed as an Invert­ed Ham­mer and price is below last week’s body and made a LL

Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 DBD and price is trad­ing at D1 VWAP in UT
    • H4 DBD giv­ing H4-C‑S 16149.13 although price has cre­at­ed lots of long buy­ing wicks
  • Trend: H4 Down, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 2/3
  • Mar­ket Profile
    • 2 over­lap­ping values
  • Dai­ly Range
    • ADR: 10206
    • ASR: 8757
      • 2189
    • ASR Short: 7441
      • 1860
    • Day
      • Yes­ter­day’s High 16202.00
      • Yes­ter­day’s Low 16045.50


  • LN open
    • Below Val­ue, Out­side Range
  • Open dis­tance to value
    • 1.57xASR
  • Nar­ra­tive
    • Huge Imbal­ance. Pos­si­ble con­tin­u­a­tion to D1 DBD. Price took out D1 demand. Asia extend­ed down and Lon­don opened at ADR exhaus­tion. IBR tra­versed 1.56xASR. Pos­si­ble uni­di­rec­tion­al day. Trend is still UP 2/3. Price is trad­ing at H4-C‑D 15953.61 OLD. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Weak­ness From With­in IBR
  • Hypo 2
    • Failed Auc­tion Long
  • Hypo 3
    • Strength From With­in IBR
  • Hypo 4
    • Failed Auc­tion Short
  • Hypo 5
    • Late-Sus­tained Auc­tion Short

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • D1-C‑S 16250.36
  • H4-C‑S 16149.13

ZOIs for Pos­si­ble Long

  • H4-C‑D 15799.27 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


Day trader. Tech geek. Sim Racing Enthusiast.

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