Bear Market Trader | Premarket Prep DAX - London session
day trade, day trading, forex, FX, trade plan, trading plan, DAX, DE30, DE30Cash, premarket prep, pre-market prep, tradingforex, traderlifestyle, daytraderlife,
9392
post-template-default,single,single-post,postid-9392,single-format-standard,vcwb,bridge,ajax_fade,page_not_loaded,,side_area_uncovered_from_content,qode-theme-ver-9.5,hide_inital_sticky,wpb-js-composer js-comp-ver-4.12,vc_responsive
 

20220420 Premarket Prep DAX

20220420 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
    • Pos­si­ble devel­op­ing MN DBD, although with a long buy­ing wick
    • Price cur­rent­ly trad­ing below last month’s body but with­in range
  • W1
    • W1 Bear Engulf and slight con­tin­u­a­tion down although with longer buy­ing wick
    • Price cur­rent­ly trad­ing with­in last week’s body

Click to Enlarge

Nar­ra­tive

  • D1
    • D1 RBR reject­ing D1 QLo with D1 demand at VAH
    • Prev. Day Exceed­ed ADR by 1.08
  • H4
    • Big H4 Bull Engulf with slight con­tin­u­a­tion arriv­ing at H4 QHi and price slow­ing down
  • Trend
    • Strong DT
  • Mar­ket Profile
    • 5‑day brack­et­ing range, although swings in effect cre­at­ing an over­all range
  • LN Open
    • 0.56xASR Above Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • Asia trad­ed side­ways form­ing a Neu­tral Day
    • Open at H4 QHi and H4 sup­ply was cre­at­ed although not the strongest. ALthough there is a D1 RBR in a Strong DT.
    • 0.48xASR IBR

Addi­tion­al Notes

  • N.A. 

Hypos

  • Hypo 1
    • Short
    • Failed Auc­tion
  • Hypo 2
    • Long
    • Failed Auc­tion
  • Hypo 3
    • Long
    • Late-Sus­tained Auction
  • Hypo 4
    • Short
    • Auc­tion Fade

Clar­i­ty

  • 1

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.

No Comments

Post A Comment

The maximum upload file size: 128 MB. You can upload: image, audio, video, document, spreadsheet, interactive, text, archive, code, other. Links to YouTube, Facebook, Twitter and other services inserted in the comment text will be automatically embedded. Drop files here