20220118 Premarket Prep DAX - Bear Market Trader
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20220118 Premarket Prep DAX

20220118 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 below last week’s body and with­in range, W1 demand

Click to Enlarge


  • LN open
    • 0.39xASR Below Val­ue, Out­side Range, Mod­er­ate to Large Imbalance
  • Mar­ket Profile
    • Brack­et­ing range established
  • Nar­ra­tive
    • Yes­ter­day closed neu­tral, pos­si­ble DBD below D1 QHi
    • ADR got exhaust­ed dur­ing Asia, trad­ing with­in D1 demand
    • Price took out H4 demand dur­ing the wide IBR and price is still trad­ing with­in D1 demand
    • H4 QHi reject­ed and first arrival at H4 QLo
    • Trend is UP 3/3
    • Asia extend­ed and trad­ed down exhaust­ing ADR
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Long
    • Failed Auc­tion
  • Hypo 2
    • Short
    • Weak­ness From With­in IBR
  • Hypo 3
    • Long
    • Strenght From With­in IBR
  • Hypo 4
    • Long
    • Rever­sal, OLD H4 demand, ADR exhaus­tion, tricky if D1 demand gets tak­en out, pos­si­ble Auc­tion Fade at W1 C‑Dem RBR

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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