20210707 Premarket Prep DAX

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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 27 Trad­ing Plan

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

Com­pared against Week­ly Trad­ing Plan

• Price trad­ing below last week’s body but with­in range

Non-con­jec­ture obser­va­tions of the market

• Price action
  • D1 Bear Engulf mov­ing 1.5xADR down clos­ing slight­ly below D1 50MA with­in demand (that was test­ed mul­ti­ple times)
  • H4 con­sol­i­da­tion just above D1 Demand End 15453.57
  • D1/H4 closed below D1 QHi
• Trend: H4 Down, D1 Up, W1 Up
  • Pre­vail­ing trend: Trend is UP 2/3
• Mar­ket Profile
  • Mul­ti-day bracket
• Dai­ly Range
  • ADR: 14867
  • ASR: 15015
    • 3754
  • Day
    • Yes­ter­day’s High 15693.80
    • Yes­ter­day’s Low 15464.40

Sen­ti­ment

• LN open
  • Open With­in Value
• Open dis­tance to value
  • N.A.
• Nar­ra­tive
  • Bal­anc­ing Mar­ket. Mul­ti-day brack­et. Yes­ter­day was a large down day. Expect­ing a retrace­ment. FF trad­ed high­er. Open with­in val­ue. IB trad­ing high­er exhaust­ing ADR. 
• Clar­i­ty (1–5, 5 being best)
  • 3
• Hypo 1
  • Failed Auc­tion Short
• Hypo 2
  •  Auc­tion Fade Short
• Hypo 3
  • Auc­tion Fade Long at H4 demand 

Addi­tion­al notes

• Cap­i­tal Preser­va­tion Rule in effect

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• D1-C‑S 15732.18
• W1-C‑S 15677.71

ZOIs for Pos­si­ble Long

• H4-C‑D 15631.58
• D1-C‑D 15606.96

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

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