20220106 Premarket Prep DAX - Bear Market Trader
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20220106 Premarket Prep DAX

06 Jan 20220106 Premarket Prep DAX

Posted at 09:41h 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 2022 Week 1 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 above last week’s body and range and price is test­ing W1 sup­ply (almost took it out yesterday)

Click to Enlarge

Sen­ti­ment

  • LN open
    • 1.29xASR Below Val­ue, Out­side Range
  • Mar­ket Profile
    • Val­ue cre­at­ed above the previous
  • Nar­ra­tive
    • Large to huge imbalance
    • D1 invert­ed ham­mer, pos­si­ble con­tin­u­a­tion although with big imbal­ance pos­si­ble for a D1 Three Out­side Down
    • Price still trad­ing with­in D1 QHi
    • H4 QHi reject­ed, price trad­ing mid swing and pre­mar­ket formed a H4 Bull­ish Inside Bar
    • Open quite near to ADR exhaus­tion high
    • Asia trad­ed low­er get­ting near to ADR exhaus­tion low
    • Trend change from 3/3 up to 2/3 up
    • Wide IBR
    • Prev. Day Exceed­ed ADR by 1.27
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Weak­ness From With­in IBR
  • Hypo 2
    • Failed Auc­tion Long
  • Hypo 3
    • Strength From With­in IBR
  • Hypo 4
    • Late-sus­tained auc­tion down

Addi­tion­al notes

  • NFP tomor­row

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • D1-C‑S 16250
  • W1-C‑S 16102.51

ZOIs for Pos­si­ble Long

  • D1-C‑D 15850.32
  • D1-C‑D 15393.40

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing Okay

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 15 trades by the end of the month, can take 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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