Bear Market Trader | Premarket Prep DAX - London session
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20220426 Premarket Prep DAX

20220426 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
    • Pos­si­bly devel­op­ing MN DBD, although trad­ing with­in long buy­ing wick
    • MN QHi rejected
    • Price cur­rent­ly trad­ing below body with­in range
  • W1
    • W1 Con­sol­i­da­tion and break down, test­ing new­ly formed W1 Supply
    • W1 QLo rejected
    • Price made a LL and is cur­rent­ly trad­ing below last week’s body

Click to Enlarge

Nar­ra­tive

  • D1
    • D1 closed leav­ing a long buy­ing wick, pos­si­bly a Base (RBR), react­ing off D1 QLo and D1 demand
    • Prev. Day Exceed­ed ADR by 1.09
  • H4
    • H4 Three Out­side Up and con­tin­u­a­tion high­er reject­ing H4 QLo return­ing and tak­ing out H4 Sup­ply Base level
    • Price trad­ing mid swing
    • Price slowed down and formed a doji at H4 VWAP and is cur­rent­ly trad­ing below pre­vi­ous range. Pos­si­bil­i­ty for a devel­op­ing ‘weak’ H4 Evening Star.
  • Trend
    • Strong DT
  • Mar­ket Profile
    • Val­ues in DT with price trad­ing above value
  • LN Open
    • 0.78xASR Above Val­ue, Out­side Range
    • Mod­er­ate to Large imbalance
    • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
    • 0.59xASR IBR, slight­ly wide

Addi­tion­al Notes

  • N.A.

Hypos

  • Hypo 1
    • Long
    • Return to Val­ue, Rever­sal, pos­si­ble Failed Auction
  • Hypo 2
    • Short
    • Late-Sus­tained Auc­tion, Val­ue Acceptance
  • Hypo 3
    • Short
    • Weak­ness From With­in IBR
  • Hypo 4
    • Long
    • 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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