20220328 Premarket Prep DAX - Bear Market Trader
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20220328 Premarket Prep DAX

20220328 Premarket Prep DAX

#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:

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

Larg­er Timeframe

  • MN
    • Price made a LL but is cur­rent­ly trad­ing with­in last month’s body
    • MN QHi reject­ed but price start­ed reject­ing off MN QHi
  • W1
    • W1 Base after a Three Inside Up
    • W1 QLo rejected

Click to Enlarge

Nar­ra­tive

  • D1
    • Pos­si­ble D1 Phase 1 / 3
    • D1 QLo rejected
  • H4
    • H4 QLo reject­ed with price trad­ing mid swing
    • H4 DBD giv­ing H4-C‑S 14378.56 (tak­ing out dur­ing IB)
    • Lots of long buying/selling wicks around
    • Pos­si­ble H4 Phase 1 / 3
  • Trend
    • Trend is Down 3/3
  • Mar­ket Profile
    • Brack­et­ing range, mul­ti­ple over­lap­ping values
  • LN Open
    • 0.06xASR Above Val­ue, With­in Range
    • Mod­er­ate Imbalance
    • 0.7xASR Wide IBR
    • Asia formed a Neu­tral Day trad­ing sideways

Addi­tion­al Notes

  • N.A.

Hypos

  • Hypo 1
    • Short
    • Rever­sal, D1 C‑Sup, Pos­si­ble Failed Auction
  • Hypo 2
    • Long
    • Strength From With­in IBR
  • Hypo 3
    • Long
    • Failed Auc­tion
  • Hypo 4
    • Short
    • Weak­ness From With­in IBR

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • No ear­ly exits, either hit SL or target
    • 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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