Bear Market Trader | Premarket Prep DAX - London session
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20220316 Premarket Prep DAX

20220316 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 below last month’s range and start­ed react­ing off MN QLo and MN Demand
  • W1
    • W1 react­ed off W1 QLo and W1 demand clos­ing as a Bull­ish Inside Bar (week­end over­lap trad­ing added)
    • Price trad­ing above last week’s body but still with­in range

Click to Enlarge

Nar­ra­tive

  • D1
    • D1 closed high­er as a Hammer
    • D1 QLo reject­ed, price trad­ing mid swing
    • Price returned to D1 Sup­ply Base level
  • H4
    • H4 Bull Engulf at H4 VWAP in UT giv­ing H4-C‑D 13837.25 (at VAH)
    • Price took out H4 sup­ply (at round number)
  • Trend
    • Trend is Down 2/3
  • Mar­ket Profile
    • Val­ue cre­at­ed below the previous
  • LN Open
    • 0.85xASR Above Val­ue, Out­side Range
    • Large Imbal­ance
    • Open at D1 Supply
    • 0.25xASR Tight IBR
    • Asia formed a Neu­tral Day

Hypos

  • Hypo 1
    • Short
    • Mean Rever­sion, Sus­tained Auction
  • Hypo 2
    • Long
    • Return to Val­ue, pos­si­ble LTF demand, pos­si­ble rever­sal or Auc­tion Fade
  • Hypo 3
    • Short
    • Rever­sal, pos­si­bly at ADR exhaustion

Clar­i­ty

  • 2

Addi­tion­al notes

  • Fed Rate Deci­sion tomor­row. Might not see much happening.

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

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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