Bear Market Trader | Premarket Prep DAX - London session
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20220520 Premarket Prep DAX

20220520 Premarket Prep DAX

#Fin­twit #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
    • Price made a LL and is cur­rent­ly trad­ing with­in body
  • W1
    • W1 Bull Engulf reject­ing W1 QLo, price test­ed new­ly formed demand
    • Price made a HH

Click to Enlarge

Nar­ra­tive

  • D1
    • D1 Bear Engulf reject­ing D1 QHi fol­lowed by an Inside Bar with longer buy­ing wick
    • Price cur­rent­ly test­ing new­ly formed sup­ply (Old D1 sup­ply test­ed mul­ti­ple times)
    • Prev. Day Exceed­ed ADR by 1.02
  • H4
    • H4 Bull Engulf reject­ing H4 QLo giv­ing H4-C‑D 13951.11
    • Price con­tin­ued high­er tak­ing out H4 sup­ply form­ing a RBR
  • Trend
    • Mixed Trend
  • Mar­ket Profile
    • Wide val­ue cre­at­ed overex­tend­ed below, price trad­ing with­in over­all range
  • LN Open
    • 1.02xASR Above Val­ue, Out­side Range
    • Large Imbal­ance
    • Asia trad­ed higher
    • 0.62xASR Wide IBR

Addi­tion­al Notes

  • Pos­si­ble Fri­day profit-taking
  • NY wider than LN

Hypos

  • Hypo 1
    • Short
    • Failed Auc­tion
  • Hypo 2
    • Long
    • Strength From With­in IBR, Late-Sus­tained Auction
  • Hypo 3
    • Short
    • Weak­ness From With­in IBR
  • Hypo 4
    • Short
    • Rever­sal, Auc­tion Fade, pos­si­bly at H4 QHi / ASR Exhaustion

Clar­i­ty

  • 3

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

Focus Points for trad­ing development

  • Month­ly Goals
    • Either hit SL or tar­get, reassess after Trad­ing Win­dow Close
    • 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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