20210810 Premarket Prep DAX

10 Aug 20210810 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 32 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 at last week’s high of the body with­in range

Non-con­jec­ture obser­va­tions of the market

• Price action
  • Price slowed down at D1-C‑S 15778.44 and formed a Neu­tral Inside Bar trad­ing deep with­in D1 QHi
  • H4 Three Out­side Down at D1 sup­ply clos­ing above H4 VWAP in UT and H4-C‑D 15741.84, pos­si­ble H4 Phase 3
• Trend: H4 Up, D1 Up, W1 Up
  • Pre­vail­ing trend: Trend is UP 3/3
• Mar­ket Profile
  • 2‑day over­lap­ping val­ues, slow down in price 
• Dai­ly Range
  • ADR: 11752
  • ASR: 10415
    • 2604
  • Day
    • Yes­ter­day’s High 15797.90
    • Yes­ter­day’s Low 15698.10

Sen­ti­ment

• LN open
  • Open With­in Value
• Open dis­tance to value
  • N.A. 
• Nar­ra­tive
  • Bal­anc­ing Mar­ket due to open sen­ti­ment. H4 Bull Engulf with fol­low-through push­ing price into D1 sup­ply. No break from over­all range. 
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Failed Auc­tion Short
• Hypo 2
  • VAH Rever­sal Long
• Hypo 3
  •  Sus­tained Auc­tion Long, late-sus­tained auc­tion entry
• Hypo 4
  • Auc­tion Fade Short, vari­a­tion to hypo 3

Addi­tion­al notes

• Cap­i­tal Preser­va­tion Rule in effect

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• D1-C‑S 15778.44
• W1-C‑S 15654.79

ZOIs for Pos­si­ble Long

• H4-C‑D 15741.84
• H4-C‑D 15695.39
• D1-C‑D 15547.73

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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