Bear Market Trader | Premarket Prep DAX - London session
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20220208 Premarket Prep DAX

20220208 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 month’s body but with­in range
    • Pos­si­bly devel­op­ing a MN Three Out­side Down
  • Price trad­ing with­in last week’s body after duck­ing below with­in range

Click to Enlarge

Sen­ti­ment

  • Nar­ra­tive
    • D1 Three Out­side Up with longer buy­ing wick although some­what weak close after react­ing off D1 QLo
    • Pos­si­ble H4 Phase 1 / 3, price trad­ing at H4 QLo
    • Trend is Down 2/3
    • Asia trad­ed down
    • IBR took out H4 sup­ply, A TPO closed above yesterday’s high and Asia session
  • LN open
    • 0.27xASR Above Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
  • Mar­ket Profile
    • 2 over­lap­ping val­ues indi­cat­ing slowdown
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Long
    • Return to Val­ue, VAH Rever­sal, pos­si­ble Failed Auction
  • Hypo 2
    • Long
    • Late-Sus­tained Auc­tion Entry
  • Hypo 3
    • Short
    • Failed Auc­tion
  • Hypo 4
    • Short
    • 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
    • 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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