Bear Market Trader | Premarket Prep DAX - London session
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20220422 Premarket Prep DAX

20220422 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 above last week’s body and made a HH

Click to Enlarge

Nar­ra­tive

  • D1
    • D1 closed as an Invert­ed Ham­mer react­ing off D1/W1 Sup­ply as well as D1 QHi
    • Prev. Day Exceed­ed ADR by 1.29
  • H4
    • H4 Three Out­side Down rejec­tion of D1/H4 QHi with some follow-through
    • Price trad­ing mid swing
    • Although H4 Bull­ish Inside Bar formed in premarket
  • Trend
    • Strong DT
  • Mar­ket Profile
    • Val­ues in UT
  • LN Open
    • 0.98xASR Below Val­ue, Out­side Range
    • Large Imbal­ance
    • Asia trad­ed side­ways but pre­dom­i­nant­ly higher
    • 0.47xASR IBR

Addi­tion­al Notes

  • Pos­si­ble Fri­day profit-taking

Hypos

  • Hypo 1
    • Long
    • Sus­tained Auction
  • Hypo 2
    • Short
    • Return to Val­ue, pos­si­ble LTF Sup­ply, Rever­sal, pos­si­ble Failed Auction
  • Hypo 3
    • Short
    • Late-Sus­tained Auction
  • Hypo 4
    • Short
    • Auc­tion Fade

Clar­i­ty

  • 3

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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