20220107 Premarket Prep DAX - Bear Market Trader
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20220107 Premarket Prep DAX

20220107 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 and price is test­ing W1 sup­ply (almost took it out) and is start­ing to react

Click to Enlarge


  • LN open
    • 0.31xASR Below Val­ue, With­in Range, mod­er­ate imbalance
  • Mar­ket Profile
    • Val­ue cre­at­ed below the pre­vi­ous but still with­in over­all range
  • Nar­ra­tive
    • Trend is UP 2/3
    • D1 Three Out­side Down but with longer buy­ing wick after react­ing off W1/D1 Supply
    • Price still trad­ing with­in D1 QHi
    • Pos­si­ble H4 Phase 3, H4 QHi reject­ed and price trad­ing mid swing
    • Prev. Day Exceed­ed ADR by 1.01, pos­si­ble momentum
    • Wide IBR
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Weak­ness From With­in IBR
  • Hypo 2
    • Failed Auc­tion Long
  • Hypo 3
    • Val­ue Acceptance
  • Hypo 4
    • Late-sus­tained auc­tion short

Addi­tion­al notes

  • NFP release later

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • D1-C‑S 16250
  • W1-C‑S 16102.51

ZOIs for Pos­si­ble Long

  • D1-C‑D 15850.32
  • D1-C‑D 15393.40

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing Okay

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 15 trades by the end of the month, can take 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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