Bear Market Trader | Premarket Prep DAX - London session
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20220120 Premarket Prep DAX

20220120 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
    • Price start­ed react­ing at W1 demand

Click to Enlarge

Sen­ti­ment

  • LN open
    • Open With­in Value
    • Bal­anc­ing Market
  • Mar­ket Profile
    • 2‑day over­lap­ping val­ues with yesterday’s being very wide
  • Nar­ra­tive
    • Bal­anc­ing Market
    • D1 Neu­tral near-Doji react­ing off D1 200MA and W1 demand
    • D1 QHi rejected
    • H4 Bull Engulf with no imme­di­ate con­tin­u­a­tion, instead a lit­tle DBD fol­lowed by a Bull Engulf and Invert­ed Hammer
    • H4 QHi rejected
    • Prev. Day Exceed­ed ADR by 1.62
    • Trend is UP 2/3
    • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Long
    • Failed Auc­tion
  • Hypo 2
    • Short
    • Weak­ness From With­in IBR
  • Hypo 3
    • Short
    • Late-Sus­tained Auction
  • Hypo 4
    • Long
    • Auc­tion Fade

Addi­tion­al notes

  • N.A.

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay but got some neg­a­tive news

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.

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