20220214 Premarket Prep DAX - Bear Market Trader
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20220214 Premarket Prep DAX

14 Feb 20220214 Premarket Prep DAX

Posted at 10:01h in DAX, Trading Plan by
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#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:

DAX 2022 Week 7 Trad­ing Plan

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Larg­er Timeframe

  • MN
    • Pos­si­ble devel­op­ing MN Three Out­side Down although price is trad­ing with­in last month’s buy­ing range/wick (2 weeks left) and with­in MN demand
  • W1
    • Last week closed as a near-Grave­stone Doji (longer sell­ing wick) clos­ing with­in W1 demand
    • Price trad­ing below last week’s body and range

Click to Enlarge

Nar­ra­tive

  • D1
    • Price with­in D1 QLo and D1 demand (test­ed mul­ti­ple times)
    • Prev. Day Exceed­ed ADR by 1.56
  • H4
    • H4 Morn­ing Star at D1 QLo with no fol­low-through, instead a Bear Engulf and con­tin­u­a­tion lower
  • Trend
    • Trend is Down 2/3
  • Mar­ket Profile
    • Val­ue cre­at­ed below the two over­lap­ping values
  • LN Open
    • 1.21xASR Below Val­ue, Out­side Range
    • Large Imbal­ance, price near­ing ADR exhaust­ed IBR tak­ing out some D1 demands although OLD D1 demand still intact
    • 1.36xASR Wide IBR
    • Asia extend­ed down, pos­si­ble uni­di­rec­tion­al day

Clar­i­ty

  • 4

Hypos

  • Hypo 1
    • Short
    • Weak­ness From With­in IBR
  • Hypo 2
    • Long
    • Failed Auc­tion
  • Hypo 3
    • Short
    • 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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T3chAddict

C TPO extend­ed below IB before clos­ing as a Bull Engulf tech­ni­cal­ly Fail­ing the Auction.
Due to new C‑sup not allow­ing a good SL I would need a deep­er retrace­ment back to M15 demand before con­sid­er­ing a poten­tial Long. No good SL place­ment means no trade.
Although LTF is show­ing signs of a poten­tial con­tin­u­a­tion as it is a poten­tial uni­di­rec­tion­al day.
I am more­over look­ing oppor­tu­ni­ties on the short side instead still.

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T3chAddict

Pos­si­ble con­sol­i­da­tion at IB Low indi­cat­ing a pos­si­ble delayed Failed Auc­tion rota­tion through IBR. Although IBR too wide the weak­ness from with­in IBR play can still be on. I’ll prob­a­bly won’t be here as I have a VD din­ner in a bit.

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