Premarket Prep DAX 20210614 - Bear Market Trader
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Premarket Prep DAX 20210614

Premarket Prep DAX 20210614

#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

Click to Enlarge

Com­pared against Week­ly Trad­ing Plan

  • Price made a slight HH trad­ing at the top of last week’s range/body

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • Price took out D1 Sup­ply and formed a spin­ning top with near­ly no wicks
    • H4 Bear­ish Ham­mer with price extend­ed above H4 VWAp in DT
  • Trend: H4 Up, D1 Up, W1 Up
    • Pre­vail­ing trend: Trend is UP 3/3
  • Mar­ket Profile
    • 3‑day brack­et
  • Dai­ly Range
    • ADR: 12264
    • ASR: 11493
      • 287
    • Day
      • Yes­ter­day’s High 15738.10
      • Yes­ter­day’s Low 15547.40

Sen­ti­ment

  • Loca­tions
    • D1-C‑D 15591 with­in val­ue at VAL
    • M30 demand at VAH
  • Sen­ti­ment
    • LN open
      • Above Val­ue, Out­side Range
    • Open dis­tance to value
      • 0.5xASR
    • Pre­mar­ket
      • H4 Bull Engulf with long buy­ing wick
    • Nar­ra­tive
      • Mod­er­ate to large imbal­ance at the open. H4 Cre­at­ed a bull engulf with long buy­ing wick
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1 —  Trend Continuation
    • Nar­ra­tive: H4 Bull Engulf pre­mar­ket. Equi­ties ten­den­cy, D1 Sup­ply tak­en out, open sentiment
    • Pre­ferred: IB exten­sion up (momen­tum) sus­tained auc­tion, exhaust­ing ADR
    • Con: all-time highs 
  • Hypo 2 — Return to Value
    • Nar­ra­tive: Same as Hypo 1
    • Pre­ferred: IB exten­sion down to failed auc­tion, LTF demand at VAH, pos­si­ble test of value
    • Con: If M30 clos­es with­in value
  • Hypo 3 — Val­ue Acceptance
    • Nar­ra­tive: Open sen­ti­ment, all-time high, Fri­day trad­ed high­er, ADR exhaus­tion at VAH,
    • Pre­ferred: Ear­ly accep­tance and quick follow-through
    • Con: Equi­ties long-biased, D1 C‑dem at VAL 
  • Hypo 4 — Auc­tion Fade
    • Nar­ra­tive: Vari­a­tion to Hypo 1
    • Pre­ferred: Hypo 1 play­ing out, build­ing struc­ture and PA rever­sal to IB edge
    • Con: short­ing equities

Addi­tion­al notes

  • Cap­i­tal Preser­va­tion Rule in effect

ZOIs for Pos­si­ble Shorts

  • Not favored in equities

ZOIs for Pos­si­ble Long

  • D1-C‑D 15591.00

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 13 trades by the end of the month
  • Week­ly Goal
    • Min. 3 times work­ing out at home + manda­to­ry cardio
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • Risk Man­age­ment
    • With­out forc­ing a trade: aim to take 1 trade a day, if pos­si­ble 2. 
    • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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