20220117 Premarket Prep DAX - Bear Market Trader
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20220117 Premarket Prep DAX

20220117 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 with­in last week’s body

Click to Enlarge


  • LN open
    • Open With­in Value
    • Bal­anc­ing market
  • Mar­ket Profile
    • 3 over­lap­ping values
  • Nar­ra­tive
    • Price trad­ing with­in D1 Sup­ply and Demand range at D1 QHi
    • H4 QHi reject­ed and price trad­ing mid swing
    • H4 Morn­ing Star cre­at­ed in pre­mar­ket tak­ing out sup­ply and IBR has already retraced and tak­en out new­ly formed H4 demand
    • D1 demand with­in val­ue at VAL
    • Trend is UP 3/3
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Short
    • Bal­anc­ing Mar­ket Reversal
    • Open With­in Val­ue, ADR 0.5 High as well D1 C‑sup right above VAH at H4 QHi
    • Pos­si­ble LTF rever­sal entry, mon­i­tor for Failed Auction
  • Hypo 2
    • Long
    • Late-Sus­tained Auc­tion Entry, 
    • Price holds above val­ue, IB extension,
  • Hypo 3
    • Long
    • Strength From With­in IBR
  • Hypo 4
    • Long
    • Failed Auc­tion
  • Hypo 5
    • Short
    • Weak­ness From With­in IBR

Addi­tion­al notes

  • N.A.

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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