20210827 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 34 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 and W1 Sup­ply but with­in range

Non-con­jec­ture obser­va­tions of the market

• Price action
  • D1 Bear Engulf with con­tin­u­a­tion down clos­ing deep­er into D1-C‑D 15824.94
  • H4 QLo reached and price start­ed reacting
• Trend: H4 Down, D1 Up, W1 Up
  • Pre­vail­ing trend: Trend is UP 2/3
• Mar­ket Profile
  • Val­ue cre­at­ed below the 2 over­lap­ping values
• Dai­ly Range
  • ADR: 11483
  • ASR: 10872
    • 2718
  • Day
    • Yes­ter­day’s High 15838.90
    • Yes­ter­day’s Low 15698.20

Sen­ti­ment

• LN open
  • Open with­in value
• Open dis­tance to value
  • N.A.
• Nar­ra­tive
  • Bal­anc­ing Mar­ket. H4 base cre­at­ed after H4 Three Inside Up, pos­si­ble RBR after H4 QLo rejec­tion plus price is trad­ing with­in D1 demand. IBR tra­versed 0.61xASR so bor­der­line respon­sive activity. 
• Clar­i­ty (1–5, 5 being best)
  • 3
• Hypo 1
  • Val­ue Rejec­tion Up, Sus­tained Auc­tion Up, pos­si­ble late-sus­tained auc­tion entry
• Hypo 2
  • Failed Auc­tion Short
• Hypo 3
  • Strength with­in IBR
• Hypo 4
  • Auc­tion Fade Short, vari­a­tion to Hypo 1 
• Hypo 5
  • Weak­ness with­in IBR

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• D1-C‑S 15966.51
• D1-C‑S 15864.53

ZOIs for Pos­si­ble Long

• D1-C‑D 15824.94
• W1-C‑D 15660.10

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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