Bear Market Trader | Premarket Prep DAX - London session
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20220421 Premarket Prep DAX

20220421 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 trad­ed and closed higher
    • Price trad­ing with­in D1 Supply
    • Prev. Day Exceed­ed ADR by 1.07
  • H4
    • Pos­si­ble H4 Phase 2
    • Price trad­ing with­in H4 QHi
    • H4 demand at VAH
  • Trend
    • Trend Change: Trend is Down 2/3
  • Mar­ket Profile
    • Wide val­ue cre­at­ed above over­all range
  • LN Open
    • 0.26xASR Above Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • Price trad­ing at round num­ber of 14500
    • 0.74xASR Wide IBR
    • Asia extend­ed higher

Addi­tion­al Notes

  • N.A.

Hypos

  • Hypo 1
    • Short
    • Failed Auc­tion
  • Hypo 2
    • Long
    • Strength From With­in IBR
  • Hypo 3
    • Long
    • Late-Sus­tained Auction
  • Hypo 4
    • Short
    • Auc­tion Fade, pos­si­ble reversal

Clar­i­ty

  • 4

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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