Bear Market Trader | Premarket Prep DAX - London session
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20220303 Premarket Prep DAX

20220303 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

Larg­er Timeframe

  • MN
    • MN Three Out­side Down with slight buy­ing wick off of MN VWAP in UT
    • MN QHi rejected
    • Price trad­ing below last month’s body and range has made a LL
  • W1
    • Price trad­ing at W1 QLo and has left a buy­ing wick
    • Price trad­ing with­in W1 demand, near­ing W1 demand End

Click to Enlarge

Nar­ra­tive

  • D1
    • D1 Inside Bar with longer buy­ing wick not clos­ing above W1/D1 QLo
    • Pos­si­bly devel­op­ing a D1 Three Inside Up oth­er­wise a DBD
  • H4
    • H4 Bull Engulf giv­ing H4-C‑D 13904.97 (inside val­ue) reject­ing H4 QLo
    • Price slow­down just below D1/W1 QLo, not clos­ing above
  • Trend
    • Trend is Down 2/3
  • Mar­ket Profile
    • Val­ue cre­at­ed below the pre­ced­ing brack­et­ing range
  • LN Open
    • 0.05xASR Above Val­ue, With­in Range
    • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
    • Pos­si­ble Frankie Fake­out trad­ing lower
    • IB accept­ed Value

Hypos

  • Hypo 1
    • Short
    • Val­ue Accep­tance, although trad­ing right into demand
    • Late-sus­tained auc­tion preferred
    • Pos­si­ble Weak­ness From With­in IBR
  • Hypo 2
    • Long
    • Return to Val­ue, VAH rever­sal, pos­si­ble Failed Auction
    • Pre­ferred to close above Asia
  • Hypo 3
    • Long
    • Sus­tained Auction, 
    • Pre­ferred to close above Asia
  • Hypo 4
    • Short
    • Auc­tion Fade

Clar­i­ty

  • 3

Addi­tion­al notes

  • NFP tomor­row

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing tired so will take extra caution

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • No ear­ly exits, either hit SL or target
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • 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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