Bear Market Trader | Premarket Prep DAX - London session
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20220210 Premarket Prep DAX

20220210 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 reversed to devel­op­ing MN C‑sup
  • Price trad­ing with­in last week’s body after duck­ing below with­in range
    • Price pro­ceed­ed to trade high­er and is cur­rent­ly trad­ing with­in last week’s sell­ing wick

Click to Enlarge

Sen­ti­ment

  • Nar­ra­tive
    • D1 fol­low-up on the D1 QLo rejec­tion and tra­versed 1.06xADR higher
      • Pos­si­ble momen­tum although trad­ing at D1 Supply
    • Price formed a H4 Bear Engulf (at D1 Sup­ply) below H4 QHi with­out test­ing H4 QHi
      • No fol­low-through. Instead a Bull Engulf clos­ing with­in D1 Supply
      • New demand at VAH
    • Yesterday’s high near VAH
    • Mixed Trend
    • IBR test­ing H4 QHi
  • LN open
    • 0.21xASR Above Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
  • Mar­ket Profile
    • Val­ue cre­at­ed above the 3‑day bracket
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Long
    • Return to Val­ue, VAH rever­sal, pos­si­ble Failed Auction
  • Hypo 2
    • Short
    • Val­ue Accep­tance, risky due to new­ly formed demand, per­haps a late-sus­tained auc­tion oth­er­wise a full rota­tion (thus tak­ing out H4 demand) first to estab­lish direction
  • Hypo 3
    • Long
    • Late-Sus­tained Auction
  • 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
    • 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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