Bear Market Trader | Premarket Prep DAX - London session
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20220309 Premarket Prep DAX

20220309 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
    • Price trad­ing at MN QLo and with­in MN-C‑D 12765.57
    • Price trad­ing below last month’s body and range
  • W1
    • Price trad­ing with­in W1 QLo and W1-C‑D 12585.63
    • Price made a LL and is cur­rent­ly trad­ing with­in last week’s body

Click to Enlarge

Nar­ra­tive

  • D1
    • D1 Bull Engulf giv­ing D1-C‑D 12900 reject­ing D1/W1/MN QLo
    • Prev. Day Exceed­ed ADR by 1.66
  • H4
    • Pos­si­ble H4 Phase 1 tran­si­tion to 2 tak­ing out H4 supply
  • Trend
    • Trend is Down 3/3
    • Strong DT
  • Mar­ket Profile
    • Val­ue cre­at­ed on top of the previous
  • LN Open
    • 0.65xASR Above Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • Open at old H4 sup­ply and yesterday’s high
    • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
    • ADR exhaus­tion not far above, ASR Exhaus­tion just above it

Hypos

  • Hypo 1
    • Long
    • Late-Sus­tained Auc­tion, prefer­ably close above Asia and IB / yesterday’s high
  • Hypo 2
    • Short
    • Failed Auc­tion
  • Hypo 3
    • Short
    • Rever­sal, ADR exhaus­tion, pos­si­ble Auc­tion Fade

Clar­i­ty

  • 3

Addi­tion­al notes

  • N.A.

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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