20211124 Premarket Prep DAX - Bear Market Trader
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20211124 Premarket Prep DAX

24 Nov 20211124 Premarket Prep DAX

Posted at 09:57h 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 47 Trad­ing Plan

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

Com­pared against Week­ly Trad­ing Plan

  • Pos­si­ble devel­op­ing MN Three Out­side Up
  • Last week closed as an Invert­ed Ham­mer and price is below last week’s body and made a LL

Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Trend: H4 Down, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 2/3
  • Mar­ket Profile
    • Wide val­ue cre­at­ed below pre­vi­ous range
  • Dai­ly Range
    • ADR: 11986
    • ASR: 9482
      • 2371
    • ASR Short: 8091
      • 2023
    • Day
      • Yes­ter­day’s High 16095.80
      • Yes­ter­day’s Low 15864.10

Sen­ti­ment

  • LN open
    • Open With­in Value
  • Open dis­tance to value
    • N.A.
  • Nar­ra­tive
    • Bal­anc­ing Market
    • D1 Phase 4
    • H4 Bull­ish Inside Bar with no con­tin­u­a­tion. Instead some con­sol­i­da­tion with no break (yet)
    • H4 closed below H4 QHi and is cur­rent­ly trad­ing mid-swing
    • Prev. Day Exceed­ed ADR by 1.93
    • ADR Exhaus­tion right below VAL
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1
    • Failed Auc­tion Long
  • Hypo 2
    • Failed Auc­tion Short
  • Hypo 3
    • Late-Sus­tained Auc­tion Short
  • Hypo 4
    • Auc­tion Fade Long

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • H4-C‑S 16149.13

ZOIs for Pos­si­ble Long

  • H4-C‑D 15799.27 OLD

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) 
    • No ear­ly exits, either hit SL or 2R target
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • Process
    • Keep trade review com­ments short
  • 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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