20211126 Premarket Prep DAX - Bear Market Trader
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20211126 Premarket Prep DAX

20211126 Premarket Prep DAX

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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 return­ing to W1 base and orig­i­nat­ing level

Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Trend: H4 Down, D1 Down, W1 Up
    • Pre­vail­ing trend: Trend Change — Trend is Down 2/3
  • Mar­ket Profile
    • 2 day over­lap­ping val­ues cre­at­ed with price trad­ing below value
  • Dai­ly Range
    • ADR: 13901
    • ASR: 11178
      • 2795
    • ASR Short: 9117
      • 2279
    • Day
      • Yes­ter­day’s High 15965.00
      • Yes­ter­day’s Low 15847.00


  • LN open
    • Below Val­ue, Out­side Range
  • Open dis­tance to value
    • 3.46xASR
  • Nar­ra­tive
    • Huge Imbal­ance
    • W1 returned to W1 Base demand lev­el and is almost test­ing orig­i­nat­ing lev­el of W1-C‑D 15290.73
    • D1 Phase 4 took out D1 demand
    • Trend change — Trend is Down 2/3, W1 is still up.
    • H4 DBD giv­ing H4-C‑S 15926.79
    • Asia extend­ed down in a sus­tained auc­tion and Lon­don opened at ADR exhaus­tion, pos­si­ble uni­di­rec­tion­al day
    • Wide IBR
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Weak­ness From with­in IBR
  • Hypo 2
    • Sus­tained Auc­tion Down, risky trad­ing at W1 demand, late-sus­tained auc­tion preferred
  • Hypo 3
    • W1 Rever­sal, pos­si­ble Failed Auction
  • Hypo 4
    • Auc­tion Fade Long

Addi­tion­al notes

  • Sup­pos­ed­ly a new strain of COVID is caus­ing hav­oc in the markets

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • H4-C‑S 15926.79

ZOIs for Pos­si­ble Long

  • W1-C‑D 15290.73
  • D1-C‑D 15127.09

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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