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Premarket Prep DE30 DAX 09042020

Premarket Prep DE30 DAX 09042020

#day­trade #day­trad­ing #forex #FX #INDEX #INDICES #DAX #DE30 #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #trad­ing­forex #day­trad­ing

This is my pre­mar­ket prep for today’s Euro­pean ses­sion for DE30 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.

Non-con­jec­ture obser­va­tions of the market

  • D1 Bear Engulf retrac­ing the pre­vi­ous Marubozu can­dle after W1-C‑S 13423.12 proved reactive. 
  • Mar­ket Profile
    • Yes­ter­day opened above brack­et­ing range pro­ceed­ed to retrace back to brack­et­ing range low
    • Cur­rent­ly trad­ing 1.1xADR and 1.6xASR below VAL
    • ADR: 26032
    • ASR: 18824
    • Day
      • Day High 13461.20
      • Day Low 12932.01
      • Price with­in above day range
    • Loca­tions
      • D1-C‑D 12997.12 at H4 QLo at 1.1xADR and 1.6xASR below VAL

Com­pared against Week­ly Trad­ing Plan

  • Still above last month’s body
  • Trad­ing with­in MN QHi, cur­rent­ly above last month’s range with­in MN-C‑S 12936.82
  • Trad­ing above last week’s body

Sen­ti­ment

  • Sen­ti­ment
    • LN open
      • Below val­ue, out­side range
    • Open dis­tance to val­ue: 1.1xADR and 1.6xASR below VAL
    • Sen­ti­ment
      • Due to the place­ment of the open I have a more bull­ish sentiment
      • DAX IB range is 1.1x ASR so could respon­sive activ­i­ty instead. Cau­tion is warranted. 
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1 — long mean reversion 

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts (very risky)

  • D1-C‑S 13729.96
  • W1-C‑S 13423.12

ZOIs for Pos­si­ble Long

  • D1-C‑D 13098.56 BASE
  • D1-C‑D 12997.12

Mind­ful Trading

  • Slept okay

Focus Points for trad­ing development

  • Week­ly Goal
    • For­mu­late hypos in order of like­li­hood and track with actu­al devel­op­ment on the day
    • Incor­po­rate pro­file day type
  • Trad­ing Rules
    • If Open out­side of val­ue con­sid­er the place­ment in rela­tion to ADR 
    • Don’t take into con­sid­er­a­tion medi­um time frame c‑lines past 24 hours
    • FX with­in val­ue > DAX
  • Risk Man­age­ment
    • 3 trades 1% risk, 3rd trade only if first 2 worked out
    • OK to take 1R when in DD
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

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