Bear Market Trader | Premarket Prep DAX - London session
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20220413 Premarket Prep DAX

20220413 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 QHi reject­ed price trad­ing mid swing
    • Pos­si­bly devel­op­ing a MN DBD
    • Price cur­rent­ly trad­ing below last month’s body, but still with­in range
  • W1
    • Last week closed as a W1 Bear Engulf
    • W1 QLo reject­ed, price trad­ing mid swing
    • Price cur­rent­ly trad­ing below last week’s body and range made a LL

Click to Enlarge

Nar­ra­tive

  • D1
    • Price reached and test­ed D1 QLo and D1-C‑D 13918.70
    • Price closed low­er but with slight­ly longer buy­ing wick
    • Prev. Day Exceed­ed ADR by 1.38
  • H4
    • H4 Bull Engulf at D1/H4 QLo (rejec­tion) giv­ing H4-C‑D 14004.35 (near round number)
    • Fol­lowed by a Bear Engulf with no con­tin­u­a­tion. Instead a move high­er clos­ing with­in H4-C‑S 14058.03 (Low — Dist. Curve)
    • Pre­mar­ket closed as a Bear­ish inside Bar
    • Pos­si­ble H4 phase 1 / 3
  • Trend
    • Strong DT (although price arrived at D1 QLo and H4 start­ed rejecting)
  • Mar­ket Profile
    • Wide val­ue cre­at­ed below the brack­et­ing range although VAH still touch­ing the range
  • LN Open
    • Open With­in Value
    • Asia extend­ed and trad­ed higher
    • 0.34xASR Tight IBR

Addi­tion­al Notes

  • N.A.

Hypos

  • Hypo 1
    • Short
    • Failed Auc­tion, Pos­si­ble 3‑I Day
  • Hypo 2
    • Long
    • Late-Sus­tained Auction
  • Hypo 3
    • Long
    • Auc­tion Fade
  • Hypo 4
    • Short
    • Auc­tion Fade

Clar­i­ty

  • 2

Mind­ful Trad­ing (lack of sleep?)

  • Still not feel­ing the sharpest. Was sick a few days. 

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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