20211020 Premarket Prep DAX - Bear Market Trader
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20211020 Premarket Prep DAX

20 Oct 20211020 Premarket Prep DAX

Posted at 09:34h in DAX, Trading Plan by
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#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:

DAX 2021 Week 42 Trad­ing Plan

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Com­pared against Week­ly Trad­ing Plan

  • Price trad­ing with­in last week’s body above W1 demand at W1 sup­ply base level
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 Three Out­side Down with no con­tin­u­a­tion (yet). Instead yes­ter­day formed an Inside Bar below D1 QHi.
    • H4 con­sol­i­da­tion with­in H4 QHi above H4-C‑D 15481.93 (with­in value)
  • Trend: H4 Up, D1 Down, W1 Up
    • Pre­vail­ing trend: MIXED Trend
  • Mar­ket Profile
    • 3‑day brack­et
  • Dai­ly Range
    • ADR: 15328
    • ASR: 13205
      • 3301
    • ASR Short: 11459
      • 2864
    • Day
      • Yes­ter­day’s High 15529.00
      • Yes­ter­day’s Low 15452.80

Sen­ti­ment

  • LN open
    • Open With­in Value
  • Open dis­tance to value
    • N.A.
  • Nar­ra­tive
    • Bal­anc­ing Mar­ket. 3‑day brack­et. IBR tra­versed 0.71xASR indi­cat­ing fur­ther pos­si­bil­i­ty for respon­sive activ­i­ty but it did take out H4 sup­ply and test­ed MN C‑sup.
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1
    • Strength From With­in IBR
  • Hypo 2
    • Failed Auc­tion Short
  • Hypo 3
    • Weak­ness From With­in IBR 

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • D1-C‑S 15588.27
  • W1-C‑S 15561.74

ZOIs for Pos­si­ble Long

  • H4-C‑D 15481.93
  • W1-C‑D 15290.73

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 20 trades by the end of the month, prefer­ably 2 a day (not in the same prod­uct at the same time) 
  • Week­ly Goal
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
    • No ear­ly exits, either hit SL or 2R target
  • 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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