20210913 Premarket Prep DAX

13 Sep 20210913 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 37 Trad­ing Plan

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

Com­pared against Week­ly Trad­ing Plan

• Price retraced to MN demand
• Price trad­ed and closed down with­in W1 demand

Non-con­jec­ture obser­va­tions of the market

• Price action
  • Price trad­ing at MN / W1 / D1 demand trad­ing mid D1 swing
  • H4 Bear Engulf giv­ing H4-C‑S 15656.83
• Trend: H4 Down, D1 Up, W1 Up
  • Pre­vail­ing trend: Trend is UP 2/3
• Mar­ket Profile
  • Price cre­at­ed val­ue above the pre­vi­ous trad­ing in an over­all range
• Dai­ly Range
  • ADR: 15155
  • ASR: 12972
    • 3250
  • Day
    • Yes­ter­day’s High 15703.39
    • Yes­ter­day’s Low 15547.78

Sen­ti­ment

• LN open
  • Below Val­ue, With­in Range
• Open dis­tance to value
  • 0.01xASR
• Nar­ra­tive
  • Mod­er­ate Bal­ance. Open right below VAL. IB accept­ed and rotat­ed through val­ue exhaust­ing ADR. Pre­mar­ket trad­ed high­er com­ing from D1 demand. IB tra­versed 0.66xASR so a bit wide. 
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • VAA, already done
• Hypo 2
  • Failed Auc­tion Short
• Hypo 3
  • Sus­tained Auc­tion Long
• Hypo 4
  • Strength from with­in IBR
• Hypo 5
  • Auc­tion Fade Short, vari­a­tion to Hypo 3

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• H4-C‑S 15656.83

ZOIs for Pos­si­ble Long

• W1-C‑D 15664.00
• MN-C‑D 15585.83
• D1-C‑D 15548.18

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 20 trades by the end of the month, prefer­ably 2 a day (not in the same prod­uct at the same time) 
• Week­ly Goal
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • No ear­ly exits, either hit SL or 2R target
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

• Twit­ter
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