20220504 Premarket Prep DAX - Bear Market Trader
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20220504 Premarket Prep DAX

20220504 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 DBD
    • Price trad­ing with­in body
    • MN QLo test­ed, price trad­ing mid swing
  • W1
    • Pos­si­ble W1 Phase 1 / 3
    • Price retraced to W1 Three Out­side Up
    • W1 QLo reject­ed, price trad­ing mid swing

Click to Enlarge


  • D1
    • D1 closed high­er but below VWAP
    • D1 QLO rejec­tion, price trad­ing mid swing
  • H4
    • H4 Phase 1 / 3
    • H4 Three Out­side Down at H4-C‑S 14046.85 reject­ing H4 QHi
  • Trend
    • Trend is UP 2/3
  • Mar­ket Profile
    • Price trad­ing with­in over­all range
    • 2‑day over­lap­ping val­ues wider than usual
  • LN Open
    • Open With­in Value
    • Price opened at H4 QHi
    • 0.5xASR IBR
    • Asia formed a Neu­tral Day but most­ly trad­ed lower
    • NY wider than LN

Addi­tion­al Notes

  • Tomor­row, May 05, USD, Fed Inter­est Rate Decision
  • Fri­day, May 06, USD, Non Farm Pay­rolls (Apr)


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


  • 2

Mind­ful Trad­ing (lack of sleep?)

  • Didn’t sleep well so will take extra caution

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


Day trader. Tech geek. Sim Racing Enthusiast.

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