Bear Market Trader | Premarket Prep DAX - London session
day trade, day trading, forex, FX, trade plan, trading plan, DAX, DE30, DE30Cash, premarket prep, pre-market prep, tradingforex, traderlifestyle, daytraderlife,
8435
post-template-default,single,single-post,postid-8435,single-format-standard,vcwb,bridge,ajax_fade,page_not_loaded,,side_area_uncovered_from_content,qode-theme-ver-9.5,hide_inital_sticky,wpb-js-composer js-comp-ver-4.12,vc_responsive
 

20220119 Premarket Prep DAX

20220119 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 range, trad­ing at W1 demand

Click to Enlarge

Sen­ti­ment

  • LN open
    • 0.54xASR Below Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
  • Mar­ket Profile
    • Val­ue cre­at­ed below the pre­ced­ing bracket
  • Nar­ra­tive
    • Price broke down from con­sol­i­da­tion giv­ing D1 C‑Sup tak­ing out demand
    • D1 QHi rejection
    • H4 Phase 4 arriv­ing at old H4 demand, W1 demand
    • Prev. Day Exceed­ed ADR by 1.82
    • Trend is Down 2/3
    • Asia formed a neu­tral day but pre­dom­i­nant­ly trad­ed down
    • Wide IBR
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Long
    • Val­ue Accep­tance, mon­i­tor for con­tin­u­a­tion although H4 c‑sup above VAH
  • Hypo 2
    • Short
    • Return to Val­ue, VAL rever­sal, pos­si­ble Failed Auction
  • Hypo 3
    • Long
    • Strength From With­in IBR
  • Hypo 4
    • Long
    • Auc­tion Fade

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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

No Comments

Post A Comment

The maximum upload file size: 128 MB. You can upload: image, audio, video, document, spreadsheet, interactive, text, archive, code, other. Links to YouTube, Facebook, Twitter and other services inserted in the comment text will be automatically embedded. Drop files here